{"id":1004183940,"date":"2017-07-30T23:00:37","date_gmt":"2017-07-31T07:00:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004183940"},"modified":"2025-02-26T02:49:41","modified_gmt":"2025-02-26T10:49:41","slug":"rents-moderate-in-the-san-francisco-bay-area","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rents-moderate-in-the-san-francisco-bay-area\/","title":{"rendered":"Rents Moderate in the Bay Area"},"content":{"rendered":"<p>By Anca Gagiuc<\/p>\n<div id=\"attachment_1004183943\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart7.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004183943\" data-attachment-id=\"1004183943\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rents-moderate-in-the-san-francisco-bay-area\/chart-12\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart7.jpg\" data-orig-size=\"1007,433\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"San Francisco rent evolution, click to enlarge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;San Francisco rent evolution, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart7.jpg?w=1007\" class=\"wp-image-1004183943\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart7.jpg\" alt=\"San Francisco rent evolution, click to enlarge\" width=\"400\" height=\"172\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart7.jpg 1007w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart7.jpg?resize=300,129 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/chart7.jpg?resize=768,330 768w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004183943\" class=\"wp-caption-text\">San Francisco rent evolution, click to enlarge<\/p><\/div>\n<p>After several years of heightened growth, multifamily rents in San Francisco have tempered. Just one year after double-digit increases had bumped the average to $2,480\u2014among the highest in the country\u2014rents decreased by 0.5 percent year-over-year through May. Rents have reached a point where even highly paid workers can\u2019t afford the premium prices, despite the metro\u2019s consistent job expansion, robust tenant demand and high home prices. The lack of affordability is a prime suspect in the slowdown.<\/p>\n<p>San Francisco\u2019s economy continues to attract investment and development. The University of California, Berkeley, anticipates that the 325,000-square-foot Berkeley Way West will be completed by December 2017, boosting the education sector. The Chinese investor behind the 42-acre waterfront Landing at Oyster Point in South San Francisco plans to add a residential component with roughly 1,200 units to prepare the area for the life sciences industry, which is expected to add 18,000 jobs in the next three years.<\/p>\n<p>Transaction activity has slowed in 2017, with only $300 million in properties trading in the first five months of the year. This comes after last year\u2019s cycle high, when more than $3 billion in assets changed hands, reflecting investor caution amid escalating prices and macroeconomic uncertainty. With more than 15,000 units under construction, Yardi Matrix forecasts rents will remain flat in 2017.<\/p>\n<p><a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/268-SanFrancisco-Summer2017Outlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=268-SanFrancisco-Summer2017Outlook\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Read the full Yardi Matrix report.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just one year after double-digit increases had bumped the average to $2,480\u2014among the highest in the country\u2014the rate decreased by 0.5 percent year-over-year through May.<\/p>\n","protected":false},"author":237,"featured_media":1004183944,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,1609,15],"tags":[],"class_list":["post-1004183940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-san-francisco","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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