50 Miles across the bay from San Francisco, in Alameda County
Real Estate Trends
Oakland used to be one of the best places to buy rental property in the Bay Area but has started to rapidly catch up.
You get the proximity to San Francisco without facing that city’s dizzyingly high prices: According to Zillow’s latest data, the median price in San Francisco for all homes — that means from one-bedrooms, to single-family homes, to multi-family and condos, and everything in between —is $1,253,461.
In Oakland, the median price is almost half that. Add on to this Oakland’s impressive employment numbers in recent years. Unemployment has dropped significantly since 2013, while both the percentage and number of people in the civilian labor force has increased. This is a good development because many other parts of the country ostensibly have lower unemployment rates, but there are actually fewer people in the labor pool working or even looking for work anymore, distorting the measure of employment in those cities.
Percentage of renter households: 60.2% Number of renter households: 96,048 Median property price: $653,250 Median rent: $3,127 Price-to-rent ratio: 19.45 Annual rental income: $37,524 Gross rental yield: 5.74