9 major California cities experienced rent decreases this summer, led by a 3.8% drop in San Diego.

Rents in nine major California cities decreased this summer, with San Diego seeing the largest decline at 3.8%. Despite high prices in Oakland—averaging $1,793 for a one-bedroom and $2,153 for a two-bedroom—the overall trend is linked to new apartment developments and economic challenges, including high unemployment. As a result, landlords are adjusting prices, offering incentives, or modestly increasing rates to adapt to changing market conditions.

September 14, 2024
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