Here's something you haven't read in awhile: It appears that San Francisco rent prices could be leveling out. Conversely, Oakland's rent prices are skyrocketing. This is according to new data released by Zumper, a rental service start-up. According to their latest numbers, the monthly price for a one-bedroom apartment in San Francisco actually fell from a high of $3,670 in October to $3,500 in November—a change of 4.6 percent. Meanwhile, Oakland became the nation's fourth most expensive rental market with the cost of a one-bedroom apartment rising by 19 percent to $2,190.
According to Devin O'Brien of Zumper, this could spell a change in the San Francisco market. "I think there's a certain threshold (percentage of income), where people will refuse to pay and look for alternate options," he says. "There are also a decent number of new developments slated to be completed in the next year, which should slow the rate of increase in the city." San Francisco still remains the most expensive rental market in the U.S.
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