Bay Area renters, don’t look now, but more hikes might be on the horizon.
Year over year rents rose 3 percent in March in San Jose, 6 percent in Oakland and 1 percent in San Francisco, according to a survey by Apartment List released Monday. Nationally, rents rose about 2.3 percent during the last 12 months.
Real estate economists and professionals are expecting a continued run-up during this year’s peak summer moving season. “We’re just not doing anything to keep up with it on the supply side,” said Chris Salviati, housing economist with Apartment List.