Some Big Cities See Shrinking Rents

Even as rents continue to rise nationally, some of the most expensive cities like San Jose, San Francisco, and New York have seen rents fall this year.

1 minute read

October 6, 2016, 11:00 AM PDT

By Casey Brazeal @northandclark


Apartments for rent signage

Taber Andrew Bain / Flickr

Have rents in the most expensive cities in the country finally found their ceiling? An article by Laura Kusisto in the Wall Street Journal reports that at least this year, average rents are declining in San Jose, San Francisco, and New York. "Rents in San Francisco declined 3%, while they fell about 1% in New York and edged lower in Houston and San Jose, Calif., the first drops in those markets since 2010, according to apartment tracker MPF Research. Across the U.S., rent growth was 4.1% on average."

While this report is good news for renters, many believe the days of these cities' sky high rents are coming to a middle. Kusisto says this change in rents will affect new construction. "Few large urban developers have said they are canceling projects in the pipeline, but permits for new projects are down. A slowdown in new construction could help stabilize the market by 2018 or 2019."

Tuesday, October 4, 2016 in The Wall Street Jounal

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Use Code 25for25 at checkout for 25% off an annual plan!

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

May 7, 2025 - Diana Ionescu

Person in yellow safety suit and white helmet kneels to examine water samples outdoors on a lake shore.

USGS Water Science Centers Targeted for Closure

If their work is suspended, states could lose a valuable resource for monitoring, understanding, and managing water resources.

May 1, 2025 - Inside Climate News

Aerial view of Freeway Park cap park over I-5 interstate freeway in Seattle, Washington at night.

Congress Moves to End Reconnecting Communities and Related Grants

The House Transportation and Infrastructure Committee moved to rescind funding for the Neighborhood Equity and Access program, which funds highway removals, freeway caps, transit projects, pedestrian infrastructure, and more.

April 30, 2025 - Streetsblog USA

Person stepping over hole in sidewalk.

Portland Council Tentatively Approves Sidewalk Repair Plan

The proposal would address sidewalk needs in Portland’s District 1 and District 4.

May 12 - Oregon Public Broadcasting

6-story building at Honolulu Community College.

Expanding Access to Design Education at Honolulu Community College

Honolulu Community College’s Architecture, Engineering & Construction Technologies program highlights the role of community colleges in preparing nontraditional students for careers in architectural and construction technologies.

May 12 - University of Hawai'i News

"Radiation Zone, Keep Out" sign on wood post with red Arizona desert mesa in background

Integrating Human Rights Into Energy and Extractive Sector Transitions

Why just transition efforts must move beyond economic considerations by embedding human rights principles into business practices to ensure equitable, transparent, and accountable outcomes for affected communities and workers.

May 12 - Cambridge University Press

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.