The Bay Area economy remains strong, supported by a booming tech industry and robust job growth. Asking rates continue to climb in the region, averaging $2,820, a 3.1% increase from the prior year. Over 28,000 units are under construction, focused on the South Bay and East Bay markets. Rising demand to live near transit-oriented areas have spurred developers to deliver units within these locations.
Bay Area Multifamily Market Report
3rd Quarter 2019