Is housing really cheaper in Oakland?
Modern amenities are to be found at rentals around Oakland’s Jack London Square. At Fourth Street East, apartments range from $2,775 for a studio to $5,000 for a three-bedroom.
Absolutely, if for no other reason than SF’s population density is more than five times higher than Oakland’s. The City packs 875,000 people into roughly 47 square miles, while Oakland has 426,000 people living in 125 square miles. This helps explain not only why SF housing is more expensive but why driving and parking are suckier here.
As of October, the average rent for a one bedroom apartment in SF was $3,200. In Oakland, it was $2,300. But neighborhoods vary a lot even in the same city, so it’s more accurate to consider comparable neighborhoods. Probably the closest sister neighborhoods, which include new-builds that face the Bay, are SF’s South Beach ($3,600 for a one bedroom) and Oakland’s Jack London Square ($2,100). Oakland, like San Francisco, does have rent control, but it’s generally less favorable to renters.
If you are looking to buy, Oakland is significantly cheaper, with an average home price of $740,000 vs SF’s $1,370,000. As with renting, prices depend on neighborhoods, but even so, you can get a lot more for your money on the East side of the Bay, including outdoor space.
Article source: https://www.7x7.com/reasons-to-move-to-oakland-2620766526.html