With 43.7 million households now renting nationwide — the highest level in 55 years — a new RentCafe study details what zip codes in the Bay Area have turned into renter hotspots.
SoMa and North San Jose saw the fastest jump in renters in the last 10 years, with Oakland’s Coliseum area following close behind. Bay Area’s largest cities have 10 zip codes that are among the fastest growing zips for renters in the nation:
- The fastest-growing zip code in the Bay Area in terms of renting is San Jose’s 95134, where the tenant population more than doubled over 10 years. In 2011 there were 10,188 residents renting in this neighborhood. That grew to 24,508 in recent years.
- San Francisco’s South of Market (94103) and Presidio (94129) have seen tremendous increases as well (50%) and are the fastest-growing renter zip codes in San Francisco. Not only is SoMa the trendiest renting hotspot in San Francisco, it is also home to one of the largest populations of renters — 25,000. That number represents 84% of the overall population in zip code 94103.
- Treasure Island and Presidio are the only zip codes in the Bay Area where renters make up virtually 100% of the population — 94130 (Treasure Island) and 99.3%, respectively, in 94129 (Presidio).
- Oakland’s fastest-growing zip code, 94621, near the Coliseum, saw a 24% uptick in renters. This neighborhood has more than 22,000 people renting, representing more than two-thirds of its population.
- What about the largest renter hotspots in the Bay Area? In 94109, Nob Hill, San Francisco, more than 45,000 residents are renting, which makes this area the most populous neighborhood. Downtown San Jose, 95122 is the second largest renting hotspot in the Bay Area, with 36,400 renters. And is also one of the top neighborhoods in the nation that saw an apartment construction boom in the last years.