New report reveals rents drop in some Bay Area cities

FILE - Bay Area apartments are seen in this undated image. (KGO-TV)

Rents are still going up in the Bay Area, but there is some good news.

A new report revealed rents have actually dropped in some Bay Area cities. They haven't dropped by much, but rental research company Real Answers reports the typical monthly rent in Palo Alto is down by $37 to $3,410 a month.

In Mountain View, asking rents also dropped a couple of dollars to $2,829.

Experts told the Silicon Valley Business Journal it's unclear if those cities are seeing the start of a trend.

The most dramatic increases were actually much further north. For example, Solano County is experiencing a 16.5 percent increase, Napa is seeing a 16 percent increase and Contra Costa County is seeing a 12 percent increase.

Statewide, rents in the third quarter were up nine percent compared with 2014.
Related Topics:
realestateaffordable housinghousinghousing marketapartmentrental propertyrentssolano countycontra costa countystudyPalo AltoMountain ViewNapa
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