Jeff Hansen & Arvin Paredes

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Downtown San Jose Condo & Townhouse Living

San Jose Metro Rent Hike Taking Number 1 Spot

No. 1 In The United States

san jose skyline

By the end of 2011, the San Jose Metropolitan area had beaten out the San Francisco-Oakland-Fremont area for the number one spot in the U.S. in terms of rent hikes. This may or may not surprise you, but with the relatively low inventory of homes on the market and the amount of people that are living in the Silicon Valley, why wouldn’t rents be up? It’s like I’ve always said, people are always going to live somewhere, which means they’re either going to rent or buy. Many people come here to work because of the opportunities in high-tech, but all in all, the San Jose Metropolitan area has become a desirable place to live for many reasons.

“Average rents in the San Jose-Sunnyvale-Santa Clara metropolitan area climbed 11.7 percent to $1783 by the end of 2011 compared to $1,596 at the end of 2010.”

-Mary Ann Azevedo (Reporter-Silicon Valley/San Jose Business Journal)

You can read the rest of the article here and see how other big cities’ rent hikes in the U.S. compare to the San Jose Metropolitan area. As a citizen of Silicon Valley, how are the increases in rents affecting you? Is it causing you to want to quit paying someone else’s mortgage and start paying your own? Do you feel it’s much better financially to rent versus buy? And finally, what would you need to see change in order to start thinking it’s a better a decision to buy versus rent? Leave a comment below and don’t forget to subscribe.


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