San Francisco champions in baseball, and rents.

November 2, 2012

by Brandie Young

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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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