The weighted average asking rent for an apartment in San Francisco, including one-off rentals as well as those in larger developments, slipped another 1.4 percent over the past month to $4,170, which is 2.0 percent lower than at the same time last year and 6.6 percent below a peak in the fourth quarter of 2015. That being said, the asking rent for a one-bedroom has ticked back up to around $3,600 a month (versus $3,650 in 2015).
At the same time, the weighted average asking rent for an apartment in Oakland ticked up 2.5 percent over the past month to $2,630, which is nearly 12 percent higher than at the same time. But the jump is being driven by an increase in the size (i.e., mix) of the available units.
And adjusting for mix, the average asking rent for an apartment in Oakland appears to have actually slipped around 2.8 percent over the past month to $2,500, which would be 16 percent below a 2016-era peak but 6.1 percent higher versus the same time last year with the asking rent for a one-bedroom holding around $2,100 a month (which is 42 percent less expensive than in San Francisco versus 43 percent less expensive at the same time last year).