59°
Light rain
FRI
 66°
 45°
SAT
 67°
 40°
SUN
 71°
 37°
MON
 73°
 43°
TUE
 75°
 44°

Rents level off in Sonoma County

Sonoma County rents leveled off late last year, a trend that one analyst said may reflect a new push by renters to move out of their apartments and buy their own homes.

The county's average rent inched up to $1,278 per month in the fourth quarter, an increase of $3 from the third quarter, according to RealFacts, a Novato firm that tracks trends in the rental market.

The county's occupancy rate declined by a half percent in the fourth quarter to 96.6 percent.

"Rents have hit the wall — at least for the time being," said Sarah Bridge, founder and managing member of RealFacts. "Whether this is due solely to an increased demand in for-sale housing remains to be seen.

"But the fact is, when people leave their rental unit to buy a house, a unit becomes vacant. Landlords can only raise rents so long as there is continued demand to fill the unit."


© The Press Democrat |  Terms of Service |  Privacy Policy |  Jobs With Us |  RSS |  Advertising |  Sonoma Media Investments |  Place an Ad
Switch to our Mobile View