palo alto rental market trend 2009
It’s search engine result Thursday!
Recently someone found this site by searching for: palo alto rental market trend 2009
Hm. That’s a good question. I think the answer is obvious – UP!
But does anyone have references for a good rental price tracking site that can be limited to a particular city? We should have the details!
That said, let’s take at a unit for rent right now in Palo Alto just to get a taste:
Unit Details
FOREST VITTORIA
542 Forest Ave.
Palo Alto, CA 94301
Cross Street: Cowper St.
Type: Apartment
Size: Studio /1 Bath
Sq.ft. 425
Lease Term: Call
Rent: $1395
Deposit: $1000TOP FLOOR REMODELED LARGE STUDIO….BEST LOCATION IN TOWN! Located just two blocks from the corner of University & Cowper Street is this recently remodeled large studio apartment home. This remodeled apartment home features the following newer items: paint, carpet, tiled bathroom floor, vanity tops, lighting, tiled kitchen countertops, disposal, frost-free refrigerator, cook- top and oven, mini blinds, and much more! Amenities include: large living area, many closets, lots of light, covered parking, and storage.
$3.28 per square foot to rent. That seems about right. I’m betting next year this will be a health $4 per square foot as real estate prices continue to climb!
October 8th, 2009 at 1:49 pm
In that neighborhood I recommend the top floor due to all the homeless.
In fact top floors are great, less desirable but I’d seek one out these days, less noise, better views, less door-knockers and general mischief, and my days of lugging HP 4192a’s around are done.
October 8th, 2009 at 7:41 pm
I’m surprised that there is such a trend in Palo Alto, rents here in Belmont, and all cities nearby have been falling for a while. I’m paying about $120-$135 more per month, than people moving in between August and now would be paying, that’s a 9-10% drop from April. Vacancy rates are actually pretty high for apartments right now.
October 9th, 2009 at 11:00 pm
PA rents are soft. Check out Leon Leong’s site.
October 29th, 2009 at 8:59 am
Rents for studios right now average around $1100 per month (Redwood City to Mountain View). This one is more expensive because it’s downtown.
October 29th, 2009 at 9:01 am
lol @ people paying that much for a shoebox.. in San Jose you can get a 2-bedroom apartment for $1200 or less, just means a little more driving.