Rents jump in Silicon Valley
Rents in Silicon Valley were up 12.6 percent in the second quarter, with the average of $1,759-a-month topping all markets in the country, a new report said Thursday.
Apartment rental research company RealFacts said some of the biggest local rent hikes came in Sunnyvale, up 17.6 percent from a year ago to $1,731, San Mateo up 14.5 percent to $1,964 a month and Mountain View up 13.2 percent to $1,812.
The most expensive rents are in Cupertino at $2,168 and Palo Alto at $2,450. Both of those saw increases of about 14 percent.
Average rents in San Jose are up 10.1 percent to $1,642.
The San Francisco metro area -- which includes the Peninsula, East Bay and Marin County -- was No. 2 in the country for rent costs in the RealFacts report, up 7.6 percent to $1,644.