SAN FRANCISCO (CBS SF) – New data on the Bay Area housing market indicates a sharp increase in home values paired with higher rents across the region.
According to home price tracking firm Zillow, Bay Area home values rose more than 17 percent in May compared to a year earlier. Rents over that same period went up by about six percent.
The median home value rose 15.5 percent to about $680,000.
The median rental value rose about nine percent to more than $2,700 per-month.
Click here for Zillow’s tracking numbers from the Bay Area.