As more employees are working remotely and access to the amenities of city living – restaurants, bars, nightclubs, concerts, museums, etc. – remains restricted, rents are dropping throughout the Bay Area. In fact, 4 of the top US cities with declining rents are in the Bay Area: San Francisco (17.8%), San Jose (9.5%), Oakland (7.9%), and Fremont (6.3%).
Many apartment complexes are offering “move-in discounts.
Of course, rents in the Bay Area remain high compared with the rest of the country: the median price in San Francisco is $2,590, in San Jose $2,170, and in Oakland $2090.