Having dropped a little over 5 percent at the end of last year, the weighted average asking rent for an apartment in San Francisco, including one-off rentals as well as units in larger developments, has since ticked up around 3 percent to $4,150 per month.
That being said, the average asking rent for an apartment in the city is effectively even (up 0.1 percent) on a year-over-year basis and still 7 percent below its 2015-era peak of around $4,450 per month, with the average asking rent for a one-bedroom currently holding at around $3,500 per month (which is around 2 percent lower than at the same time last year and roughly 4 percent below peak).
At the same time, the weighted average asking rent for an apartment in Oakland has dropped around 3 percent to $2,775 a month, which is 3 percent below its mark at the same time last year and around 5 percent below its peak in the second quarter of 2016, with the average asking rent for a one-bedroom having dropped around 3 percent to $2,400 a month.
And as such, the premium for a one-bedroom in San Francisco as compared to Oakland has ticked back up to 32 percent, which is even with the same time last year but having averaged over 40 percent in 2015.
Keep in mind that our latest trends analysis is based on pricing data from over 3,800 past and active listings for apartments in San Francisco and Oakland combined and for which the “weighted average” apartment now totals 2.4 bedrooms when counting a studio as having one.