Landlords, cross your fingers that job growth will keep fueling demand for apartments, especially in San Jose, where rent prices jumped 6.7 percent in the second quarter.
That $134 rent spike followed a surge in San Jose’s workforce. Last year, the city added 34,200 jobs, with an estimated 27,500 more on the way, reports RealFacts, citing a study by Marcus & Millichap.
Read this RealFacts article for the national perspective on rent growth, plus predictions on whether rent prices will continue climbing as more apartments come on line.