Average Oakland one bedroom apartments skyrocket to $3,022 per month

Average Oakland one bedroom apartments skyrocket to $3,022 per month

By Lynda Carson - August 9, 2022

Oakland - According to Rent.com, the average cost for a one bedroom apartment in Oakland has skyrocketed to a whopping $3,022 per month, a 22% increase from last year.

Additionally, the average price for studio apartments in Oakland are going for an insane amount of $3,020 per month, an increase of 17% in the past year, according to Rent.com.

Hard as it is to believe that the average one bedroom apartment in Oakland is going for $3,022 per month, according to Redfin, rental units at 312 24th Street in Oakland range from $3,620 per month for a studio apartment, to an unbelievable $14,910 per month for a three bedroom apartment.

As astonishingly high as the rents are at 312 24th Street, in the zip code area of 94612, the violent crime rate is 85.6 compared to the national average of 22.7, and property crimes rank at 88.5 in the area, compared to the national average of 35.4, according to Best Places.net.

One can only wonder why they are charging Rolls Royce prices for rent at 312 24th Street in Oakland, when it appears to be in a ghetto location in regards to crime?

Or, in other words, who in their right mind would be willing to pay a whopping $14,910 per month for a three bedroom apartment in that area while the violent crime rate is 85.6 compared to the national average of 22.7, and property crimes rank at 88.5 in the area, compared to the national average of 35.4?

Meanwhile, as the Robber Baron landlords are ripping off the tenants in Oakland with their over priced rental schemes and skyrocketing rent increases, the greedy landlords at the California Apartment Association (CAA) are opposed to SB 1026.

SB 1026 is a sensible reasonable bill being considered that would require that the greedy landlords in California must inform prospective tenants with information about the energy efficiency of their rental units and properties being offered for rent, before entering into a rental agreement with a prospective tenant.

Indeed. During a period of outrageous inflation increases tearing families apart and the never ending rip off rate increases of PG&E, only the greedy landlords at the CAA would be against the reasonable requirements of SB 1026. A bill that would require landlords to provide prospective tenants with information regarding the energy efficiency of the rental units before the tenant gets caught into a rental agreement trap, due to a lack of information.

Rents In Oakland Keep Skyrocketing To New Heights:

Reportedly, “In 2018, the average rent in Oakland was $2,740, but between 2018 and 2019, the city has seen a significant rent increase. As of April 2019, the average rent had risen to $3,040, meaning the rent increase in Oakland was a stunning 9.8% year over year.”

Additionally, according to reports, in 2021 Oakland was ranked as the fifth most dangerous city in the nation.

That’s right! Oakland’s greedy landlords have been charging renters Rolls Royce prices in dangerous ghetto locations.

Meanwhile, shootings in Oakland are rampant.

Oakland Rent Increases Trough The Years:

During 1998, reportedly the median price for a studio apartment in Oakland was $540.00 per month, 1 bedroom rental units were $725.00 per month, and 2 bedroom units averaged out at $875.00 per month, according to Homefinders.

Due to massive rent increases during 1999, the median price for a studio apartment in Oakland was $713.00 per month, 1 bedroom rental units were $850.00 per month, and 2 bedroom units averaged out at $1,050.00 per month. The housing crisis that occurred due to the rent gouging going on by greedy landlords during 1998 through 1999 amounted to a 32% increase in rent for studios, a 17% increase for 1 bedroom units, and a massive 20% increase for 2 bedroom units. The rent gouging by greedy landlords occurred during a period in which the so-called 3% cap on annual rent increases still existed in Oakland.

Additionally, based on figures from Rental Resolutions in that period, during the year 2000 in Oakland, the minimum market rate monthly rents averaged out at $800.00-$900.00 for studio apartments, $850.00-$1,100.00 for 1 bedroom units, and $1200.00-$1500.00 for 2 bedroom units.

The average market rate monthly rent in Oakland during 2001 were $850-$950 for studios, $1,150-$1,300 for 1 bedroom units, and $1,600-$1,800 for 2 bedroom rental units. The above source of figures were from Rental Resolutions in 2001. Indeed, to renters during that same period, these were some alarming figures that resulted in the displacement of many low-income renters in Oakland.

In comparison, during 2004, low-income areas below MacArthur Boulevard had cheaper rents, and the average minimal monthly rents being charged for one-bedroom units were only $650.00 a month in Oakland.

Monthly Average Rents In Oakland’s Low-Income SRO Hotels:

During 2004, the Ridge Hotel charged $475 a month for an SRO room: The Old Oakland Hotel charged $480 to $520 a month for an SRO: The Sutter Hotel charged $560 for an SRO: The Lake Hurst Hotel near Lake Merritt offered SRO rooms for as little as $675 per month, and in addition to the room, they offered renters two free meals a day, five days a week, in their dining room.

In comparison, during 2014, the Empyrean Towers, formerly known as the Hotel Menlo, that was comparable to the low-income Ridge Hotel in Oakland, Alice Tse was charging renters as much as $79 dollars a night to live in slum-like conditions at the bedbug infested SRO hotel.

Rents In Oakland Continue To Rise, Displacing Many:

According to the East Bay Express in 2012, one bedroom units were going for $900 to $1,000 in the Lake Merritt area, but during the same year studio apartments were going for $1,100 to $1,200, and one bedroom units for as much as $1,300.

During 2015, it was reported that Oakland had the second fastest-rising rents in the nation, passing the pace of San Francisco’s rent increases, coming in second behind the rent increases occurring in Denver. The rents in Oakland have climbed over 12.1 percent during 2015, since the end of 2014.

In 2016, according to a report from Zumper, rents in Oakland were the fifth highest in the nation, and the New York Times claimed that Oakland’s median rent was right below Manhattans median rent.

During August of 2017, the average market rate rent for a one bedroom unit was $2,400 per month in Oakland.

Gentrification schemes in Oakland by greedy landlords have been displacing the poor, and persons of color from the city for the past number of years as the skyrocketing rents and evictions continue to increase on a daily basis.

-Lynda Carson may be reached at newzland2 [at] gmail.com

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