Rent growth “ripples” through the Bay Area; are the East Bay suburbs poised for next spike?
Bay Area Class A asking rents have maintained an upward trend throughout the current cycle
August 07, 2019
- Bay Area Class A asking rents have maintained an upward trend throughout the current cycle. Since 2009, rents have increased significantly in all of the Bay Area’s core submarkets.
- San Francisco has historically led the region in rent growth, causing a “ripple effect” moving east into Oakland where rents have increased 150.0 percent since 2009.
- Average rents in core markets along the I-680 Corridor are following this trend as well, especially in the Tri-Valley where 10-year rent growth is 72.0 percent. The region could experience a similar rent spike in the near future as a result of the Bay Area “ripple effect.”
Source: JLL Research