SAN FRANCISCO (KRON) — Lease costs in San Francisco dropped in October for the second-straight month, in response to a research performed by Residence Checklist. The research confirmed a 0.7% lower in October for lease within the metropolis.
Even with October’s dip, lease costs are increased within the metropolis than they have been in October 2021. Based on Residence Checklist, there was a 1.3 p.c hike during the last 12 months. Lease costs rose steadily from January 2022 to August.
San Francisco lease costs
Based on Residence Checklist, a mean one-bedroom condominium in San Francisco prices $2,339 per 30 days. For 2-bedroom models, that quantity vaults to $2,644.
Whereas lease costs have been rising within the Metropolis by the Bay, they’ve grown at a slower fee than statewide and nationwide lease costs. Lease development in California is at 5.3% during the last 12 months and 5.7% throughout america in the identical timeframe.
Elsewhere within the Bay Space
Of the 10 Bay Space cities included in Residence Checklist’s research (San Mateo, Redwood Metropolis, Pleasanton, San Francisco, Fremont, Alameda, Hayward, San Leandro, Harmony, Oakland), 9 of them have seen lease costs enhance over the previous 12 months. Fremont has seen the steepest enhance, with costs in that metropolis rising by 7.7%.
The most costly place to lease an condominium of these 10 cities is San Mateo, which has a mean value of $2,950 for a two-bedroom condominium. Even so, lease costs in San Mateo fell 3.1% within the final month.
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Oakland was the most affordable metropolis measured, with renters needing simply $1,800 for the typical two-bedroom. Oakland was additionally the one metropolis to see lease costs drop over the previous 12 months — they dropped by 3.1%.
Methodology
Residence Checklist described the way it makes its lease estimates. “We begin with dependable median lease statistics from the Census Bureau, then extrapolate them ahead to the present month utilizing a development fee calculated from our itemizing information,” its web site mentioned. For extra, click on HERE.
