Rent prices down in San Francisco, San Jose
SAN FRANCISCO (KTVU) - A new report out shows rent prices are falling in several Bay Area cities.
The trend for rent prices has been up for such a long time but in San Francisco, rent came down by 6 percent last month.
Abodo, an apartment search website, released a new study showing where the biggest increases and decreases were in rents for one bedroom apartments across the country. >>>Click here to see the report.
Rent in San Francisco between August to September went from around $3,950 a month to around $3,700.
In San Jose, the news was better. It ranked number two in the nation as having the biggest fall in rent during the same time period. Prices there decreased by 12 percent.
A one bedroom went from around $2,800 to $2,455. In Oakland, it was the opposite. Rent prices increased with the average rent going up about $45.
So it's unknown if Oakland will eventually go down as well, but some in housing and rental industry say what's happening here in the city and in San Jose could be sign that the rental market is flattening out.