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Data: In Silicon Valley, Mountain View and Sunnyvale see biggest drops in apartment rents since February

Median apartment rents in Mountain View, home to search giant Google LLC’s headquarters, have dropped more than 15.5% since February, the sharpest drop in median apartment rents compared to nine other Silicon Valley cities during that time.

That’s according to a Business Journal analysis of data collected by online renting platform Apartment List. The data tracks median rent levels for studio, one-, two-, three- and four-bedroom units, going as far back as January 2017. The Business Journal studied median rent growth only from February through September because February was the month before the Bay Area initially ordered its residents to shelter-in-place effective March 17.

Apartment List’s data shows that median rents for apartments in Mountain View ranging from studios to four-bedroom units decreased between 15.63% and 15.66% from February to September, depending on the unit type. For example, the median rent for a two-bedroom unit was $3,148 in February; it was $2,655 in September, a 15.66% negative change. While the data did not include an explanation for the decline in median rents over the seven months, remote work is one possible factor. Read more via BizJournals

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

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