Bay Area apartment rental market is booming

July 21, 2011 6:28:44 AM PDT
An unusual mix of a booming tech economy and non-stop foreclosures has resulted in a booming Bay Area rental market.

According to the San Jose Mercury News, the San Jose metro area, including Silicon Valley, has the highest average rent among 43 metro regions -- up more than 12 percent in one year.

The article cites information from rental research company REALFACTS. The San Francisco metro area, including the Peninsula, East Bay and Marin County saw the second highest increase, up more than 7.5 percent year over year.

Sunnyvale saw rents climb 17.5 percent and San Mateo more than 14 percent.