A closer look: Bay Area rent prices

Video Statistics and Information

Video
Captions Word Cloud
Reddit Comments
Captions
the Port Commissioners will have their final vote regarding the name change. Well, the latest Bay Area rent numbers are in and they show a pattern. They also show just how challenging it is and expensive it is to make it here in the Bay. Our business ad tech reporter Scott Budman joins us. We talk about where we live. We also talk about where we work. That has obviously a relationship here. Yeah, it really is where we work that has a lot to do with the rent and how often your employer wants you to come back into work one day a week, three days a week, something like that. Right? Which means you have to live close to the office. And that's why we're seeing these latest rental numbers from Zumper. They just came out absolutely a pattern here. Mountain view seeing the biggest jump in the Bay Area monthly rent up 13% since this time last year. Cupertino and Santa Clara were number two and three. By the way , those cities no coincidence here home to alphabet, Apple and Nvidia, all tech companies bringing people back to the office. And as that happens, those people want to live closer to where they work. That means rents go up. San Francisco, by the way, down about 3% in the last year, Oakland down by 9. Not as many techies needing to go back to the office. Raj in those spots. Okay, well, we have Meta in Menlo Park. What about the peninsula and even South City here? In terms of rent numbers, Peninsula is where we see the biggest growth. The South Bay, though, has seen some growth. San Jose up, we saw Santa Clara up and we've seen Santa Clara County as a whole also rise. Most of the Bay Area is up. Some people are willing to commute to those companies, but it's specifically that peninsula that's really seeing the big growth and East Bay. Is there any indication that companies will start moving across the Bay or right now? Is it still concentrated in San Francisco to San Jose, a little bit more in the housing prices? When you look at Alameda County, they're up. Rents for Oakland are down, rents for Alameda, though, are up. So not really sure that that's specifically because of tech companies. But I think you're right. I think people are willing to move away and rent, at least for a while, if it means getting back to the office. And that's why for at least 3 to 4 days a week, we're starting to see a lot more traffic during the
Info
Channel: NBC Bay Area
Views: 26,844
Rating: undefined out of 5
Keywords:
Id: ZjL6QNxa0xw
Channel Id: undefined
Length: 2min 4sec (124 seconds)
Published: Thu May 09 2024
Related Videos
Note
Please note that this website is currently a work in progress! Lots of interesting data and statistics to come.