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San Carlos Real Estate January 20, 2008

Rental Rates Rising in San Mateo County

by Chuck Gillooley

Those aren’t the “3 R’s” you learned in school, and definitely not ones you want to hear if you are renting an apartment or trying to find an apartment in San Mateo County. A recent report shows that San Mateo County is the second most expensive place to rent an apartment in the entire Bay Area, trailing only the perennial king San Francisco.

And prices are continuing to rise — this year’s current average rental of $1,740 is 8.6% higher than it was in 2006. So chances are you’ll be throwing even more cash into the furnace this next year than last, and perhaps even more next year. Of course, this is all good news for folks with rental properties.

For the summary of the stats, courtesy of the San Mateo Daily Journal, click here —> Rising Rents in San Mateo County .

Combine the rising rents with a slowing housing market, and the gap between renting and owning might be narrowing enough for some to make the jump. Talk to a mortgage broker to compare the numbers…you might be surprised.

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