Increase in San Francisco Rent Costs Hit Record High

Rent for a one-bedroom apartment in San Francisco has broken a record this summer, increasing by 0.5% to reach a new high of $3,700, according to a report released by online rental marketplace Zumper.

According to the report, summer moving demand has contributed to the rise in rent costs. San Francisco, which remains the most expensive U.S. city for renters, is not the only Bay Area city on the top 10 list. San Jose prices also spiked, replacing Boston as the third most expensive city in the country at $2,500 for a one-bedroom apartment.

Not all Bay Area cities saw an increase, however. Oakland dropped down to seventh on the list, at $2,200 for a one-bedroom.

Overall, the national one-bedroom rent grew 0.3% to $1,220 last month.

This post was originally posted at http://www.nbcbayarea.com/news/local/Increase-in-SF-Rent-Costs-Hit-Record-High-512067931.html.

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