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Rent has plunged by 11% in San Francisco, 8.5% in New York and keeps dropping in major US cities as employees who can work from home flee to cheaper suburbs that struggled to find tenants before the pandemic

  • Analysis from RealPage revealed the biggest changes in effective asking rents, factoring in landlord concessions, between Q3 2019 and Q3 2020
  • Rent has plummeted in high-cost cities including New York, San Francisco, Los Angeles and Boston as many fled in the height of the pandemic
  • Rent in San Francisco fell 11% driven in part by an exodus of Silicon Valley workers out of the notoriously expensive Bay Area
  • Several tech giants including Google and Facebook extended their remote working policies until at least 2021
  • New York City rent fell 8.5% as residents fled the Big Apple when it became the virus epicenter of the world and many are yet to return  
  • Many have packed up for good as they lost jobs in the tourism, entertainment and restaurant industries that used to be the lifeblood of the city 
  • Areas that were less popular in pre-pandemic times have seen a surge in annual effective rent with rent in Riverside, Sacramento and Memphis on the rise  Read more via DailyMail

Pemo Theodore

Pemo Theodore is a Media Publisher and a great people connector. She is Founder Silicon Valley TV which has served the San Francisco Bay Area for 12 years! She has produced Silicon Valley Events for Investors & Startups for 10 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 6 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto and audio podcasts. 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 audio & visual media and she has built up a great body of work of videos of panels & interviews and podcasts in Silicon Valley startup ecosystem. She has lived & worked in Canada, Australia, Ireland, London, Northern Ireland, New Zealand & Silicon Valley. Bio https://pemo.one

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