Photo: Flickr/Meetu Singhal
Zumper released their San Francisco Bay Area Metro Report last week, which indicated that the median rent for one-bedroom apartments in San Francisco inched down 8.9 percent year-over-year. However, at $3,270 per month, it’s still the most expensive city in the country for renters.
San Francisco’s average monthly rent price for two-bedroom apartments also declined by 7.6 percent compared to the same time last year. The high cost of living has prompted many tech workers to migrate to other West Coast cities such as Seattle — a factor that may be contributing to the slight overall decrease in rental prices.
Following close behind San Francisco is Palo Alto, where the median one-bedroom rent stands at $2,890. Similarly, the city has seen an 8.3 percent year-over-year decrease for one-bedroom apartments and an 11.7 percent year-over-year decrease for those with two bedrooms.
Surprisingly, Napa, known for its award-winning wineries, ranked third-last on Zumper’s San Francisco Bay Area Metro Report, at only $1,490 for a one-bedroom and $2,340 for a two-bedroom.
If you’re looking for the cheapest rent in the Bay Area, check out Vallejo. It’s a 40 minute drive from San Francisco and boasts a more manageable median price of $1,300 for a one-bedroom. The median rental price for a two-bedroom unit is comparatively affordable at $1,460.
While this month’s report brings slight relief to Bay Area renters, these numbers far exceed the national average of $1,142 for a one-bedroom apartment and $1,353 for a two-bedroom apartment.