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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 is a Media Publisher & Event Producer. She is CoFounder/CEO Silicon Valley TV She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with almost 3k members. She has produced Silicon Valley Events for Investors & Startups 7 years. She video interviews venture capitalists & angel investors & FinTech experts. She partners with videographers to cover San Francisco Bay area startup conferences & meetups with livestreaming, video & foto packages Silicon Valley TV She is based in Silicon Valley & has been involved in online business for 14 years. She has been in small business for 46 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research from VCs, angels & women founders) “Why are Women Funded Less than Men? a crowdsourced conversation” She was TheNextWomen‘s most prolific contributor of 2011. Silicon Valley TV has been noted as a platform for supporting high growth women led companies in Huffington Post

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