Renting in San Francisco continued to get more expensive in April, according to the Zillow Rent Index, released late last week. According to the report, the average rent in San Francisco in April was $4,225 a month. That’s 1.1 percent higher than the average rent amount in March, and a staggering 16 percent surge from April 2014. The increase for the entire San Francisco metro area was at 14.9 percent, easily the highest rental growth rate for a major city The only cities where rents rose anywhere near as much were San Jose CA, with a 12.9 percent increase; and Denver CO, at 11.6 percent. Besides San Francisco, several other Bay Area cities experienced a massive surge in rents over the past year, including Berkeley, where the average rent rose a painful 30.9 percent.
In an attempt to avoid variations caused by specific inventory on the market at a given time, Zillow’s Rent Index assesses the rental values of all properties within a city, not just what’s available to rent at the moment.