While the purchase market in San Francisco continues to drop, the weighted average asking rent for an apartment in San Francisco, including one-off rentals as well as units in larger developments, has ticked up to around $4,300 per month, which is roughly 2 percent above its mark at the same time last year and within a percent of its peak back in the fourth quarter of 2015, with the average asking rent for a one-bedroom in the city now holding at around $3,600 a month.
At the same time, the weighted average asking rent for an apartment in Oakland has ticked up to around $2,800 a month, which is a little over 5 percent above its mark at the same time last year but still 8 percent below its peak in the second quarter of 2016, with the average asking rent for a one-bedroom back up to around $2,350 a month (which is 35 percent less expensive than in San Francisco versus 40 percent less expensive at the same time last year).
Keep in mind that our trends analysis is based on pricing data from nearly 3,100 past and current apartment listings in San Francisco and Oakland combined and for which the “weighted average” apartment totals 2.4 bedrooms when counting a studio as having one.
Does this take into account all the incentives the new buildings in Oakland are offering. Lots of free month/s, plus cash offers floating around.
No.