Silicon Valley apartment rent still rises in Q1 2016, but by a bit less, Real Answers says – Silicon Valley Business Journal
In Santa Clara County, the average asking rent for a one-bedroom apartment reached $2,361, up $23 from the prior quarter and 6.5 percent — or $143 — from a year ago, Real Answers said. The figure represents advertised rents for new leases at larger communities of 50 units or more.
Sourced through Scoop.it from: www.bizjournals.com
I like Nathan’s comment on rentsl “prices could come back to earth”. Yes, after jumping nearly 10% in most areas and some even higher, some renters will move out to more distant parts of South County and Contra Costa County. That will slow demand in 2016 but not by much. However, I will say if Landlords want even higher rents, they will start accepting pets and multiple tenants on a lease.