Bay Area Rent Prices Nearly Back to Pre-Pandemic Levels

>>> WELL IT'S BAD NEWS FOR PEOPLE STRUGGLING TO MAKE IT IN THE BAY. WITH THE PANDEMIC WANING RENTS RISING. NEW NUMBERS SHOW THAT RENTS ARE NEARLY BACK TO PRE-PANDEMIC LEVELS. NBC BAY AREA STEPHANIE MAR JOHANN IN IS ONE OF THREE LOCAL COMMUNITIES SEEING THE HIGHEST SPIKE. >> TALKING ABOUT 10% TO 16% INCREASES IN RENT IN THE PAST YEAR. RIGHT HERE UNION CITY. MASKS ARE COMING OFF. OFFICES REOPENING AND RENT IS GOING UP AND IT'S GOING UP FAST. >> YEAH, IT'S GONE UP. LIKE 1,000 MORE, $500 MORE AND WE CAN'T AFFORD IT. >> SANDY IS AND HER ROOMMATE SMAR A TWO BEDROOM IS THIS IN SAN MATEO RENT OVER $2500. A GOOD FIND FOR THE AREA. THEY MOVED IN WHEN PRICES DOPD DRAWS OF THE PANDEMIC BUT TODAY BRACING FOR WHAT FRIENDS AND FAMILY ALREADY RECEIVED IN MAILBOX. A RENT HIKE NOTICE. >> IT MIGHT TAKE A BIG TOLL ON US OR WE MIGHT POTENTIALLY HAVE TO DOWNSIZE TO ONE A ONE BATHROOM APARTMENT OR STUDIO. >> LOOK AT THIS GRAPH. APARTMENT LIST HAS BEEN TRACKING RENT HIKES AROUND THE BAY. DESIGNATEO AND BERKELEY LARGEST INCREASE DESIGNATEO WITH THE A 16.5 JUMP. SAN FRANCISCO AT 15.6%. AND ALMOST 15% INCREASE FOR UNION CITY. >> IT'S WAY ABOVE THE PRE-PANDEMIC FRIENDS WE HAD. >> MATTHEW WITH COMMUNITY CONNECTIONS, A COMPANY HELPING PEOPLE RELOCATE. >> MOUNTAIN VIEW, ONE BEDROOMS ARE ALMOST SOLD OUTLET. SO YOU HAVE THE ONES THAT ARE AVAILABLE GOING FOR 3,500 IF IT'S NEAR CASTRO STREET OR THE CROSSING OF ANTONIO AND EL CAMINO. PRICES WE HAVEN'T SEEN SINCE BEFORE THE PANDEMIC. >> DUE TO RENOVATIONS DURING THE PANDEMIC AND PEOPLE GETTING BACK TO WORK. >> THE BIG COMPANIES THEY DIDN'T STOP HIRING. BUT CERTAINLY PEOPLE DID STOP

Channel: NBC Bay Area

Views: 9,958

Keywords: Making it in the bay, bay area, rent prices

Id: CE_ybRO1ZAM

Length: 2min 8sec (128 seconds)

Published: Fri Mar 04 2022