San Mateo’s rental rates keep rising

Reports: Most expensive in area with growth outpacing rest of the nation

It is shaping up to be a long, hot summer for San Mateo renters as monthly fees due to landlords ticked up by nearly 4 percent in last year, continuing a steady incline for the past six months, according to a recent report.

The report from ApartmentList.com showed the median rent for a one-bedroom unit is $3,450 and a two-bedroom unit is $4,330, while the hikes follow a trend consistent throughout the region.

Of the 10 largest Bay Area cities, residential rents rose over the past year in each except San Francisco, and San Mateo is the most expensive big city with proximity to San Francisco, according to the report.

Median monthly rates in San Mateo are the only north of $3,000 for one-bedroom units among Bay Area locales such as San Francisco, Oakland, Pleasanton, San Ramon and Redwood City. The same can be said for two-bedroom listings, where San Mateo is the only above $4,000 per month, and San Francisco and surrounding areas float closer to the $3,200 mark. – See more.

 

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