If you are moving in the SF Bay in the coming months, you are probably already seeking (online) for a place to rent. This is not easy task when you are abroad without knowing the local Californian market.
After your first searches, the prices you see online may surprise you and maybe, you wonder if you don’t have some vision troubles. No, you don’t. Rent prices in the region are skyrocketing (they are almost as high as in NYC!), and bad news is, the market is booming and prices rise up every month.
Today’s article from The Examiner says that “over the past four years, according to the (RealFacts) survey, rental prices have climbed 13.7 percent in San Francisco” and Palo Alto Online reports that “the average market value for rentals (in the Peninsula) has increased between 5 and 15 percent as the market has recovered from its stagnant period over the past 18 months”.
Nowadays, to live nearby Stanford University (Palo Alto, Menlo Park, Mountain View…), forecast to pay not less than $2,000 a month for a 1 bedroom apartment. Well, this is quite a lot but I assume this is the cost of the California dreamin’, isnt’it?
If you think you won’t be able to afford such a hight rent, sharing a house or being a “roomate” is quite common here. Lots of websites provide local classifieds (Easy Room Mate, Craigslist). If you come with your family, well… maybe you won’t live the same way as you did before, but life will still be very nice!