[Corder Building in Berkeley/photo via Wikii Commons/Sanfranman59]
Berkeley rents, pushed by low supply and increasing demand, are going up. And up. "According to the Oakland Tribune, "The median rent for a two-bedroom apartment was $1,850 a month in the last quarter of 2012, an 8.8 percent increase over the year before, according to the Berkeley Rent Stabilization Board. A one-bedroom now goes for about $1,325 a month, up 6 percent." Curbed readers will be experiencing deja vu now, having recently viewed the rather depressing Zumper data that maps out and offers average rents for San Francisco apartments. Currently, the average rent for a one bedroom in SF is $2,700 based on Zumper's sample. Still, Berkeley's one bedroom rent is hardly a bargain. US Census Quick Facts put the per capita income of the city at $38,896 fro 2007-2011, and the household income at $60,908. Based on those figures, a single person living in a one-bedroom apartment would spend dangerously close to 50% of his/her income a year on rent alone.
· What's Behind Berkeley's Sky-High Rents? [Oakland Tribune]
· US Census Quick Facts [official site]
· You're Never Moving Again: Mapping the Average Rental Rate of a One Bedroom in San Francisco [CurbedSF]