It’s fun to be the world champs – but a championship ring can come with a rich price tag.
With a view of the city streets brimming with nearly one million people attending the Giant’s victory parade, a San Francisco-based client commented “I hope they aren’t looking for rental housing.” The San Francisco Bay Area continues to be among the strongest in the country notching better than 10% increases in median rental prices for apartments and condos in the period from July through October, 2012. In fact, San Jose saw the highest increase across the nation in median home rental rates and was the second highest in apartment median prices.
Nationally, many of the big gains are in median rental rates are (not surprisingly) coming from high foreclosure states such as California, Florida, Nevada and Ohio. Other areas of strength include Houston, Indianapolis, Cleveland, Minneapolis, Portland (OR) and Boston. But Northern California seems to be leading the way in price upticks.
| MEDIAN RENTAL PRICES |
Change from July, 2012 |
|||
|
Apartments |
Homes |
|||
| Houston, Sugarland, Baytown |
11.1% |
16.3% |
||
| Indianapolis, Anderson, Columbus |
10.3% |
12.4% |
||
| Las Vegas, Paradise |
15.2% |
13.7% |
||
| Miami, Ft Lauderdale, Miami Beach |
9.8% |
11.5% |
||
| Cleveland, Elyria, mentor |
8.2% |
10.0% |
||
| Minneapolis, St Paul |
11.6% |
11.8% |
||
| Portland Beaverton |
13.3% |
12.7% |
||
| San Francisco, Oakland, Fremont |
12.2% |
15.0% |
||
| San Jose, Sunnyvale, Santa Clara |
14.1% |
19.6% |
||
| Seattle, Tacoma, Bellevue |
13.3% |
12.7% |
||
| Tampa, St Petersburg, Clearwater |
5.3% |
12.7% |
||
| Salt Lake |
2.6% |
13.1% |
||
| Boston, Cambridge, Quincy |
7.7% |
12.5% |
||
| National Average |
5.1% |
5.7% |
||
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