Oakland: The nation’s hottest rental market

Posted on August 15, 2015 by

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  • df4d2 a Oakland: The nations hottest rental market


https://www.zumper.com/apartments-for-rent/9282798/1-bedroom-adams-point-oakland-ca

338 Lenox Ave: #1 1 bed, 1 bath: $2,295 p/m. Photos: Zumper

Image 1 of 21 – 1BRs renting at Oakland’s new median

338 Lenox Ave: #1 1 bed, 1 bath: $2,295 p/m. Photos: Zumper

338 Lenox Ave: #1 1 bed, 1 bath: $2,295 p/m. Photos: Zumper

“Lobby” at Lenox Ave. Photos: Zumper

Image 2 of 21 – 1BRs renting at Oakland’s new median

“Lobby” at Lenox Ave. Photos: Zumper

“Lobby” at Lenox Ave. Photos: Zumper

Outside Lenox. Photos: Zumper

Image 3 of 21 – 1BRs renting at Oakland’s new median

Outside Lenox. Photos: Zumper

Outside Lenox. Photos: Zumper

Inside Lenox. Photos: Zumper

Image 4 of 21 – 1BRs renting at Oakland’s new median

Inside Lenox. Photos: Zumper

Inside Lenox. Photos: Zumper

Hitchcock angle view of Lenox bath. Photos: Zumper

Image 5 of 21 – 1BRs renting at Oakland’s new median

Hitchcock angle view of Lenox bath. Photos: Zumper

Hitchcock angle view of Lenox bath. Photos: Zumper

https://www.zumper.com/apartments-for-rent/9423421/1-bedroom-hoover-foster-oakland-ca

a second option: 864 34th St #2: 1 bed, 1 bath for $1850 p/m. Photos: Zumper

Image 6 of 21 – 1BRs renting at Oakland’s new median

a second option: 864 34th St #2: 1 bed, 1 bath for $1850 p/m. Photos: Zumper

a second option: 864 34th St #2: 1 bed, 1 bath for $1850 p/m. Photos:…Zumper

Inside 34th St. Photos: Zumper

Image 7 of 21 – 1BRs renting at Oakland’s new median

Inside 34th St. Photos: Zumper

Inside 34th St. Photos: Zumper

Detail on 34th St. Photos: Zumper

Image 8 of 21 – 1BRs renting at Oakland’s new median

Detail on 34th St. Photos: Zumper

Detail on 34th St. Photos: Zumper

Kitchen, 34th. Photos: Zumper

Image 9 of 21 – 1BRs renting at Oakland’s new median

Kitchen, 34th. Photos: Zumper

Kitchen, 34th. Photos: Zumper

Bathroom peek, 34th St. Photos: Zumper

Image 10 of 21 – 1BRs renting at Oakland’s new median

Bathroom peek, 34th St. Photos: Zumper

Bathroom peek, 34th St. Photos: Zumper

https://www.zumper.com/apartments-for-rent/9451633/1-bedroom-prescott-oakland-ca

Final option: Blinged out 1 bed, 1 bath loft apartment at 1201 Pine #150: $2700p/m. Photos: Zumper

Image 11 of 21 – 1BRs renting at Oakland’s new median

Final option: Blinged out 1 bed, 1 bath loft apartment at 1201 Pine #150: $2700p/m. Photos: Zumper

Final option: Blinged out 1 bed, 1 bath loft apartment at 1201 Pine…#150: $2700p/m. Photos: Zumper

Pine grounds. Photos: Zumper

Image 12 of 21 – 1BRs renting at Oakland’s new median

Pine grounds. Photos: Zumper

Pine grounds. Photos: Zumper

More exterior scenery at Pine. Photos: Zumper

Image 13 of 21 – 1BRs renting at Oakland’s new median

More exterior scenery at Pine. Photos: Zumper

More exterior scenery at Pine. Photos: Zumper

Dine/drink/chill at Pine. Photos: Zumper

Image 14 of 21 – 1BRs renting at Oakland’s new median

Dine/drink/chill at Pine. Photos: Zumper

Dine/drink/chill at Pine. Photos: Zumper

Exterior features. Photos: Zumper

Image 15 of 21 – 1BRs renting at Oakland’s new median

Exterior features. Photos: Zumper

Exterior features. Photos: Zumper

Bike storage at Pine. Photos: Zumper

Image 16 of 21 – 1BRs renting at Oakland’s new median

Bike storage at Pine. Photos: Zumper

Bike storage at Pine. Photos: Zumper

Dog wash station at Pine. Photos: Zumper

Image 17 of 21 – 1BRs renting at Oakland’s new median

Dog wash station at Pine. Photos: Zumper

Dog wash station at Pine. Photos: Zumper

Loft lay-out inside Pine. Photos: Zumper

Image 18 of 21 – 1BRs renting at Oakland’s new median

Loft lay-out inside Pine. Photos: Zumper

Loft lay-out inside Pine. Photos: Zumper

Pine deck. Photos: Zumper

Image 19 of 21 – 1BRs renting at Oakland’s new median

Pine deck. Photos: Zumper

Pine deck. Photos: Zumper

Pine kitchen. Photos: Zumper

Image 20 of 21 – 1BRs renting at Oakland’s new median

Pine kitchen. Photos: Zumper

Pine kitchen. Photos: Zumper

Bedroom at Pine. Photos: Zumper

Image 21 of 21 – 1BRs renting at Oakland’s new median

Bedroom at Pine. Photos: Zumper

Bedroom at Pine. Photos: Zumper

It’s been quite a year for renters in the USA: a rough one. Zumper’s National Rent Report for August, 2015 confirms that nationally, rent in major major cities is climbing: “The past year saw a perfect storm for rising rents across the United States. As more millennials entered the workforce, and consequently the rental market, prices have surged across a number of major metro regions. Many of these young professionals have a propensity to rent rather than buy, and are drawn toward urban areas as a whole given the career opportunities and amenities.”

This perfect storm has converged like a hurricane in San Francisco, which has now surpassed Manhattan as the nation’s priciest rental market. But S.F. is not the city where the most growth has been realized (largely because it was already so expensive to begin with). Instead, Oakland takes that award. Rents in Oakland surged 20% this past year- more than any other major city studied for this report.

5a951 1 600x323 Oakland: The nations hottest rental market

Renters face steep hikes all over the nation, but Oakland’s has been the most dramatic. Courtesy: Zumper

Now the median rent for a one bedroom in Oakland is $1,980. What can you get for that price? The gallery above will show you three examples of one bedrooms slightly under, at or above the current median. These units may excite or depress you, depending on your income and personal taste. But keep in mind, if you want to live in the Bay Area, Oakland is still among your most affordable locations to do so. San Jose one bedrooms now average $2,230 (+14.9%), and San Francisco’s run $3,500 (+12.9%).

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2015/08/11/oakland-the-nations-hottest-rental-market/

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