Bad news for would-be renters looking to relocate in the metropolitan hub of Northern California: Rents are soaring even while unempolyment remains high.
Trulia, the company that tracks rental costs nationally, reports that rents across the country rose by an average of six percent over the last 12 months ending 31 May, but the two greatest increases were in San Francisco [14.4 percent] and directly across the Bay Bridge in Oakland [11.4 percent].
The only major to report a rent decrease was Las Vegas [2.5 percent].
UPDATE: The report on rents comes the same day as the Oakland Tribune reports a grim piece of news about its own county:
Alameda County food bank sees increase in requests from wealthier areas