Nov
22
Rent Deceleration Continues in San Francisco
ByThe metro’s economy is strong and market indicators reflect continued growth, albeit at a slower pace than a couple of years ago. As supply continues to catch up with demand, Yardi Matrix expects rents to rise 0.8 percent in 2017.
After several years of consistent rent hikes, San Francisco’s housing market has cooled to some degree. Rents rose 1.8 percent year-over-year through September, trailing the national average for the 14th consecutive month. However, the average rent of $2,553 was nearly double the $1,354 U.S. rate, proving too high even for many highly skilled workers. This critical issue has pushed some large tech companies to enter the housing market, with plans to invest in affordable housing for their employees…
