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Is the Bay Area rental market cooling off?

By Patrick follow Patrick   2018 Jun 3, 3:39pm 714 views   0 comments   watch   nsfw   quote   share

For Bay Area renters struggling to afford apartments that keep getting more expensive, the latest numbers could seem too good to be true — the region’s runaway rent prices finally may be starting to level off.

San Jose is looking at the slowest start to the summer rental season in years. Rents in San Francisco are flat-lining. And Oakland saw a minuscule increase in rent prices last month.

That’s according to a new study by apartment search website RentCafe, which found the Bay Area is part of a nation-wide trend — while rents continue to increase, they’re doing it at a significantly slower pace. Experts say the slowdown suggests that in the near future, renters may finally find relief from the sky-high prices that are forcing people to flee to the Central Valley and beyond in search of cheaper housing.

“Renters are looking at an optimistic start of the rental season,” the RentCafe researchers wrote in the report released Thursday.
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