Originally posted on Gigaom:

San Francisco red-hot startup activity is not only inflating the commercial real estate market, but it is also having an impact on the residential rental market, data shows. Since January 2011, annual rents are up by $5000 but things are even worse down in the Peninsula. Some are blaming it on the IPO market, but I personally think it is more and more people moving to SF Bay Area, working for tech startups and thus putting pressure on the local real estate market.

From Apartmentlist.com blog

While we’re happy that our tech-driven economy is rebounding, renters are getting hit hard on prices, especially on the Peninsula (which we’re categorizing as Daly City, Palo Alto, Menlo Park, Mountain View, San Bruno, San Mateo and Sunnyvale).

Over a 16-month period, asking rents in those cities went up an average of 44%. At the same time, San Francisco rents went up around 19%…

View original 27 more words

About these ads

join the discussion of this post

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s