Two Bay Area neighborhoods — San Francisco's Mission Bay and North San Jose — are among the most active in terms of adding housing and incomes, according to a new report from RentCafe.
RentCafe analyzed housing inventory and population growth across 32,000 zip codes and spotlighted the areas that experienced significant transformation throughout the last decade with a surge of at least 51% in new housing units. It also made a separate list for "up-and-coming communities." These are areas that saw high numbers of new housing units, a growing population, an influx of highly educated residents and rising income in 10 years.
Two Bay Area neighborhoods landed on the list.
San Francisco’s Mission Bay waterfront tells a striking comeback story, the report notes. Once a blighted industrial area, it has transformed into a thriving mixed-use district anchored by biotech, residential development and the University of California San Francisco’s medical center.
Today, the neighborhood is home to roughly 14,700 housing units — twice as many as in 2014 — a surge that helped double its population between 2014 and 2023. Over the same period, typical incomes climbed by more than 70%, underscoring Mission Bay’s rapid evolution. Here too, over 90% of the adult population has a higher education. The median income is $184,294 a year, compared to the San Francisco city average of $140,970.
North San Jose's change is driven by Silicon Valley’s tech boom dynamics. Housing inventory doubled in 10 years from 7,515 homes in 2014 to 14,688 and its population surged by 80%. Now, more than 93% of residents are highly educated, while the median income increased by 34%, according to the report.
The full report is here: https://www.rentcafe.com/blog/rental-market/market-snapshots/us-newest-….
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