Just when it looked like the real estate market was simmering down, San Jose rents have jumped up again. In fact, for November rents are up percentage-wise more than anywhere else in the county for one-bedroom units. The average rental price for these is now $2,591/month, which is a 13% increase over the previous month.
The reason for the surge is not clear, but most experts believe we are indeed at the top of the market and expect some decline going forward. It might be a good time to hold off on signing a long-term rental agreement.