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Updated about 10 years ago,
- Rental Property Investor
- Oakland, CA
- 2,925
- Votes |
- 3,818
- Posts
Highest Rent Growth in US! (+ 50% more??) Step aside SF, SJ, Palo Alto, NYC, Austin! It's....
What city beat out San Francisco, San Jose, New York City, Austin, and other hot markets in annual rent increases? (And I wouldn't be surprised to see it go 50% higher by the end of the decade)
"Oakland had the highest apartment rent growth in the U.S., at 9.1 percent in the year ending Sept. 30, outpacing San Francisco’s 7.4 percent, and tying New York for the tightest occupancy..."
Bloomberg was kind enough to point out last week what I've been telling my friends and investor colleagues for the last 4 years... Oakland is blowing up! I remain bullish on rents and prices in Oakland (we can get more into specifics on neighborhoods). And I put my money where my mouth is! Bought a 4plex and a duplex with 2 different partners in 2014 for long-term "fix and holds" in Oakland, and looking for more great deals!
Bloomberg: Oakland Rents Outpace San Francisco as Hipsters Relocate
For all of you who haven't been (because of course you will be shot driving into town if the protestors and looters don't kidnap you!), it's not what you heard from that other guy who's also never been here 10 years ago! You can come say hi to myself, @Daniel S. , @Kyle Zaylor , @Shiloe B. , @Sam McClellan , @Jessica Yau , and others who live and/or invest in Oaktown!
I especially think Lake Merritt and West Oakland are going to kill it over the next 1,3,5,10,15,20, and 30 year periods. (with some dips in between - but generally a line charting from the bottom left towards the upper right..)
These areas are great central locations to SF and the East Bay, BART, buses, and freeways. Great restaurants and beautiful outdoor areas. Growing nightlife scene. Constant spillover from more expensive areas in SF & South Bay / Peninsula.
I would not be surprised at all if rents were 50% higher in Oakland by the end of the decade!!! IS THAT CRAZY??