{"id":57749,"date":"2018-01-17T01:21:33","date_gmt":"2018-01-17T09:21:33","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=57749"},"modified":"2026-04-22T00:38:30","modified_gmt":"2026-04-22T07:38:30","slug":"san-francisco-bay-area-2017-rent-retrospect","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/san-francisco-bay-area-2017-rent-retrospect\/","title":{"rendered":"San Francisco Bay Area 2017 Rent Retrospect"},"content":{"rendered":"

In 2017, the San Francisco Bay Area remained one of the top most expensive\u00a0metro areas in the country for renters. The average rent in the\u00a0Bay Area<\/strong> at the end of 2017 was $2,602, 3% higher than one year prior, according to Yardi Matrix<\/a>. Over the last three years, the cost of rent in this pricey housing market jumped by 16%.<\/p>\n

Apartments for rent in San Francisco<\/a>\u00a0went for an average of $3,430 in December 2017, with rents increasing slightly over the year, by only 1.5%, as was the case with many of the nation\u2019s most expensive cities. In three years, rents increased by 8% for apartments located within the city limits.<\/p>\n

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Compared to the rest of the country, the price of rental apartments in the Bay Area<\/strong> in 2017 ($2,602\/month) was almost double the national<\/strong> average rent of $1,359\/month. Moreover, prices in the region are increasing much faster than those at the national level, 16% versus 12% over the last 3 years. Renters in the city of San Francisco<\/strong>, the second most expensive rental market in the nation after Manhattan<\/a>, are paying over $2,000\/month more than the average U.S. renter. However, rents slowed down significantly in San Francisco recently, growing\u00a0slower than the national<\/strong> average rent, not just in 2017 (1.5% vs 2.5%), but also over the past three years (8% vs 12%).<\/p>\n

Berkeley rents saw the highest increase, Menlo Park rents\u00a0dropped the most<\/h3>\n

The average price of apartments in Berkeley<\/strong><\/a> is not only among the highest in the region ($3,146\/month) but is also increasing at the fastest rate, jumping 6.8% over the year, crossing the $3,000 threshold.<\/p>\n

Low-cost Fairfield<\/strong> is becoming less affordable for renters, with the second highest increase in the Bay Area in 2017, up by 6.7%, reaching $1,674\/month. Redwood City<\/strong><\/a> renters also saw their rents go up last year by 6.4%, the third highest increase, and like Berkeley, exceeded $3,000, to close out the year at $3,121\/month. Rents in Napa, Union City,\u00a0and San Leandro jumped 6.1% in 2017 as the effect of the hot San Francisco market is spreading further out into neighboring towns.<\/p>\n

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Rents decreased in 2017 in a few pricey spots, with the biggest drop in\u00a0Menlo Park<\/strong><\/a>,\u00a0down by -5.2%, ending the year at just over $3,500\/month, from almost\u00a0$3,700\/month one year prior. Other cities that boast expensive rents saw prices adjust downward in 2017. In Larkspur<\/strong>, apartment rents decreased by -2.4%, dropping under $3,000, to $2,948 at the end of December. In Pacifica<\/strong>, rental prices declined by -1.8%, at $2,687\/month as of the end of the year. Popular Palo Alto<\/strong><\/a> managed to keep rents in check in 2017, ending the year slightly down compared to 2016, -0.7% decrease, wrapping up the year still\u00a0with an average of $3,530\/month.<\/p>\n

All in all, prices in one-third of the cities in the Bay Area either declined, remained unchanged or grew slower than the national average, while two-thirds increased at a faster pace than the national average in 2017.<\/p>\n