Oakland Beats San Francisco For Growth In Rental, Home Prices
OAKLAND (KCBS) -- San Francisco housing prices are high, but the fastest rate of growth in both rents and purchase prices is in Oakland.
Zillow says Oakland's home prices are growing faster than any other place in California—and rents are growing faster than anywhere in America.
The latest numbers are for June, and showed that Oakland home prices were 16-percent higher than they were a year ago. The median monthly rent jumped by 15-percent over the last year—more than 5 times the national rate of increase.
Separate data from Paragon Real Estate Group show just how hot the Oakland market has gotten. The average home for sale is on the market for only 20 days—and is selling for 17-percent above the asking price.
