East Bay apartment rent growth accelerates in July as renter demand strengthens

Apartment rent growth in the East Bay continued to gain momentum in July, with average asking rents reaching $3.22 per square foot, or $2,570 per month, up 0.5% from June and 4.0% from a year earlier. The July increase followed several months of accelerating gains, suggesting the market's recovery has broadened as occupancy improves and new-supply pressures ease.