Having held at around $2,400 over the past three months, the weighted average asking rent for an apartment in Oakland has inched up a (1) percent over the past few weeks to $2,425 a month, which is around 7 percent higher than at the same time last year.

That being said, the average asking rent in Oakland is still 9 percent lower than prior to the pandemic and 18 percent below its 2016-era peaks of closer to $3,000 per month, with the average asking rent for a one-bedroom in the city having inched up to $2,025 per month versus closer to $2,500 at peak. And while inventory levels have dropped around 18 percent since peaking in the first quarter of this year there are still twice as many apartments listed for rent in Oakland than there were at the end of 2019. We’ll keep you posted and plugged-in.

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