Good News? Rents in Bay Area Among Nation's Highest, But Prices Trending Down: Report | NBC Bay Area
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Good News? Rents in Bay Area Among Nation's Highest, But Prices Trending Down: Report

San Francisco in 2016 topped the charts with an average rent price of $3,526 for a one bedroom apartment

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    Good News? Rents in Bay Area Among Nation's Highest, But Prices Trending Down: Report
    San Francisco Parks & Recreaction Department
    File image of homes in San Francisco.

    No surprise here.

    The Bay Area's three largest metropolitan areas are among the nation's highest when it comes to average rent prices for a one bedroom pad, according to recent report published by Abodo.

    San Francisco topped the charts with its average rent price of $3,526, far and above second-place finishing New York, which recorded an average rent price of $2,935. San Jose checked in with an average rent price of $2,508, good enough for the No. 3 spot on the list. Oakland settled in as the sixth-priciest city with an average price of $2,038.

    Despite being among the most expensive spots to live in the nation, Oakland actually experienced a roughly four percent drop in rent prices every month during 2016, according to the report. Average monthly changes in prices for San Francisco (-0.8 percent) and San Jose (-0.6 percent) also trended down this past year.

    If you're looking for a little rent relief, the average rent for a one bedroom apartment in South Dakota is an eye-popping — at least for Bay Area standards — $325, according to the report. If the Mount Rushmore State is a little too far away, Nevada's average rent cost for a one bedroom apartment is $783.

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