Forget about renting a cheap home in Greater San Jose — that market has the highest rents right now.
It costs more to rent a typical apartment, condo or single-family home in the San Jose metro area than anywhere else in the U.S., with a median rent of $3,411 in June, According to the San Jose Mercury Newsciting data from Zillow.
The heart of Silicon Valley now leads New York as the most expensive metro market, with a typical rent in Gotham City of $3,405.
Home rental prices in the greater San Diego area currently lead the San Francisco metro area, with Padre Town at $3,175, followed by Fog City at $3,168 and Boston at $3,045.
Rent in Los Angeles is also affordable at $2,983. Riverside in the Inland Empire ranked No. 8 for rent at $2,573, and Sacramento was No. 10 at $2,319.
While Greater San Francisco ranks fourth on Zillow’s list, rental prices in the region have been among the slowest to rebound in the country after plunging during the pandemic, when tens of thousands of residents left the city to work remotely .
The median rent in the city of San Francisco was $3,550 in June, 1% below pre-pandemic levels, according to Zillow.
Meanwhile, rents in the greater San Diego area have jumped 43% since June 2019. “This is the first month on record that typical rents in San Diego surpassed those in San Francisco,” Zillow said in its report. Monthly Rent Report. “On the eve of the pandemic, in February 2020, rents in San Francisco were 29% higher than in San Diego.”
— Dana Bartholomew
