MOUNTAIN VIEW BECOMES PRICIEST PLACE TO RENT
NEWS Desk Global
New numbers show Mountain View rental prices are skyrocketing -- up nearly 15% compared to last year. A property manager said the demand for rentals is so high there, sometimes more than 50 people will show up just to see one rental.
Median rent for a one bedroom is hovering above $3,500, nearly 15% higher than last year. The question now is, what’s behind the price hike?
One theory is that more tech giants on the Peninsula, including Google, are requiring workers to head back into the office post pandemic.“As tech workers are returning to the office, really puts pressure on rent prices,” said Crystal Chen of Zumper. With demand high and inventory low, renters are finding new ways to compete for housing.
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