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Old 01-22-2013, 09:49 PM
 
Location: South Korea
5,245 posts, read 6,604,761 times
Reputation: 2832
Quote:
Originally Posted by JayPaul1 View Post
Thanks for the responses so far. It has been very helpful.
To clarify, I am planning to rent in the short term till wife finds a job. I am hoping to find a 2 bedroom (in-laws will be visiting in couple of months) apartment for around $1500-$1700. Is that a reasonable range?
It's a little low but I think it will be ok. Knowing what kind of town you want to live in will help us give more advice since there is a huge range of urban/suburban/rural places in the Bay Area.
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Old 01-22-2013, 11:02 PM
 
Location: State of Relaxation
31,708 posts, read 17,513,682 times
Reputation: 21772
You can check Craigslist rentals for the East Bay, look at Fremont, Walnut Creek, Lafayette, etc. to get an idea of what a 2-bedroom would cost. I was shocked, I just took a look for you in Berkeley, and rents have gone up 50% or more since I looked at rents there 3 years ago. That seems like an unusually high jump in just 3 years. Does anyone know what's going on?
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Old 01-23-2013, 07:44 PM
 
828 posts, read 757,867 times
Reputation: 722
Quote:
Originally Posted by Ruth4Truth View Post
You can check Craigslist rentals for the East Bay, look at Fremont, Walnut Creek, Lafayette, etc. to get an idea of what a 2-bedroom would cost. I was shocked, I just took a look for you in Berkeley, and rents have gone up 50% or more since I looked at rents there 3 years ago. That seems like an unusually high jump in just 3 years. Does anyone know what's going on?
Rents have been on a steady upward slope ever since 2010. I'm lucky I found a place during that time and locked into a rental agreement as places similar to mine are now going for $500 more a month (at least).

It's a combination of a lot of things, but mainly an influx of high tech workers into the Bay Area. Specifically, many have chosen to live in SF (even if their jobs are in Palo Alto or points south). This popular trend is well illustrated by the many peninsula/silicon valley companies that now run shuttles to/from SF for their employees. Some startups have chosen to set up shop in SF, as well.

This has placed a lot of pressure on the SF rental/housing market, and many of these new workers to the area are willing to spend a lot (or are willing to live with one/many roommates) to live in SF (even resulting in bidding wars, in some instances). As a side effect, people have fled to other areas of the Bay Area to find cheaper living arrangements. And consequently, these places have also gone up in price. In simple terms, it's supply and demand at work (where demand has far outstripped demand), although there are small side points (such as rent control or the region's inability to build new housing quickly) that add to the complexity.

There have been many threads over the last few years that have discussed this upward trend in the housing/rental market at lenght:

Bay Area asking prices for rents and homes rise
"Peninsula rents going the way of SF and Manhattan"
Tech companies hiring 8,000-plus in San Francisco
"Tech boom causing rising SF rents"
Rent in SF Keeps Going Up - Who Knew??
SF rental market is insane
Home rent statistics for SF: $2017/1br, $3270/2br
"S.F. apartment rent rises as vacancy rates fall"
has anyone noticed that rent went up $10% the last 6 months?

Last edited by HockeyMac18; 01-23-2013 at 08:21 PM..
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