San Francisco's rent growth in 2024 is outpacing last year. Nine months into the year, rents in San Francisco have risen by 4.2% compared to 0.6% in 2023. Despite being one of the most expensive cities for renters in the U.S., the lack of rent increases during significant inflation has relatively lowered the cost of renting, especially for higher-end properties. There are encouraging signs that San Francisco’s population is rebounding since the pandemic dip. This could lead to a more robust and dynamic rental market in the upcoming quarters. The median rent across all home types is $3,250.

Cupertino

Cupertino remains one of the most expensive rental markets in the Bay Area due to its proximity to major tech companies, excellent schools, and overall desirability. Rent prices have stayed high because of demand from tech workers, families, and professionals seeking good schools and a suburban lifestyle near Silicon Valley. Due to increased demand in the summer, rent prices for all types of homes have slightly risen. The median rent in Cupertino for all home types is $3,899.

Sunnyvale

Sunnyvale's rental market is highly competitive, with strong demand for both single-family homes and modern apartments. This quarter, Sunnyvale saw a slight increase in rental prices across all home sizes. The suburban lifestyle, along with access to public transit and proximity to tech hubs, continues to make Sunnyvale a highly attractive option for renters. The median rent for all homes in Sunnyvale is $3,730.

Apartment Options

mResidences Silicon Valley - Sunnvale

• Studio/1 bath
• Sq Ft: sq ft
• Rent: $2,356

Hanover West Soma - San Francisco

• 1 bed/1 bath
• Sq Ft: 658 sq ft
• Rent: $2,920

Markham Apartments - Cupertino

• 2 bed/2 bath
• Sq Ft: 1,025 sq ft
• Rent: $3,835

Ventana Residences - San Francisco

• 3 bed/2 bath
• Sq Ft: 1,017 sq ft
• Rent: $5,900