Average nationwide rent prices increase

September 28, 2011 11:17:12 PM PDT
In the Bay Area the occupancy rate for rentals is at least 96 percent -- that is very high. And as you might have guessed, that's sent the average rent skywards.

The real estate development consulting firm Meyers, says that nationwide tenants are paying an average of $984 a month for rent. That's up 3 percent.

However, in San Francisco the average rent is $2,048. That's an annual increase of 8 percent.

In San Jose, renters are paying an average of $1,761. That's up 13 percent. And in Oakland, the average rent is $1,464 -- a 7 percent increase.