Posted to: General Real Estate News

Bay Area Takes Top 3 Spots for Worst Place to Rent

Price of a 1 bed rental around the Bay Area.  Via RadPad.

Price of a 1 bed rental around the Bay Area. Via RadPad.

We already know that the Bay Area is already a difficult market to buy in, but did you know that it is also becoming increasingly difficult to rent in as well?  I am constantly shocked to hear how much our buyer clients are paying in rent, which also explains why they are seeking out a mortgage instead.

Forbes just released a recent report ranking the best and worst rental markets.  Amazingly, California took more than half of the top 10 spots, with 3 major Bay Area cities taking the top three.  We all knew that San Francisco would hit the #1 spot, where rents have surged 12.8%.  Oakland takes the #2 spot, and San Jose pulls in at the 3rd worst city to rent in.

Best place to rent?  Indianapolis.

With vacancy rates under 4% in each of these three cities, when will the madness stop?

Still love this map by RadPad, which shows where you would have to live to get a decent pad.

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