Why is Oakland housing so expensive?

Supply and demand problems hurt the entire country, and people flocked from other neighborhoods into Oakland. Therefore, local values increased by about 18.2 percent in one year. The biggest tailwind that raised the price of homes is how close Oakland is to popular neighborhoods like San Jose and San Francisco.

Are condos rent controlled in Oakland?

Rent Control And Rent Adjustment If your apartment is subject to the Oakland Rent Ordinance, then you have rent control in Oakland . That means that the landlord cannot raise the rent beyond the annual CPI increase rate for any given year. Tenants can only be given one increase in any one 12 month period.

Where do rich people live in Oakland?

Fairview Park . With a median home price of $1,570,657 and a median rent of $2,235, Fairview Park is the most expensive neighborhood on our list. Based on the growth in home prices in Fairview Park over the last 3 years, it ranks No. 1 among all the neighborhoods in Oakland.

How much do you need to make to live comfortably in Oakland California?

"That's the minimum income in order to live a comfortable lifestyle." After looking at median rents, Consumer Affairs also found you'd need to earn more than $124,000 to live comfortably in San Jose, roughly $117,000 in Fremont and about $99,000 in Oakland.

How much can my landlord raise my rent in Oakland?

The annual allowable rent increase is either 60% of the Consumer Price Index (based on the rate of inflation) or 3%, whichever is lower . Under certain circ*mstances rent can be raised by more than the allowable increase (see below).

What is the housing problem in Oakland?

Oakland recorded an 83% increase in homelessness from 2017 to 2022 , according to the city's recently adopted housing element. Black or African American residents are disproportionately represented, making up 60% of the city's unhoused population, despite composing 23% of the city's population.

How much can a condo owner raise the rent in California?

Limits on Rent Increases The Tenant Protection Act caps rent increases for most residential tenants in California. Landlords cannot raise rent more than 10% total or 5% plus the percentage change in the cost of living – whichever is lower – over a 12-month period .

Are Oakland home prices dropping?

Oakland Housing Market Trends What is the housing market like in Oakland today? In June 2024, Oakland home prices were down 1.1% compared to last year , selling for a median price of $890K. On average, homes in Oakland sell after 23 days on the market compared to 15 days last year.

Is Oakland an expensive place to live?

The cost of living in Oakland, CA is 1% higher than the state average and 39% higher than the national average . Oakland, CA housing is 90% more expensive than the U.S average, while utilities are about 33% pricier.

Why is Bay Area so unaffordable?

As land has been rationed in an effort to curb urban sprawl, the excess of demand over supply has driven prices up ,” the report said. Prices were driven up even further as investors jumped into the market to make a profit.

Oakland CA Condos & Apartments For Sale - 195 Listings

195 results

240 Caldecott Ln UNIT 204, Oakland, CA 94618
COMPASS, Susanne S. Alexander DRE #00947347
$439,000
1 bd
1 ba
773 sqft

- Condo for sale
13 hours ago
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5835 Thornhill Dr #2, Oakland, CA 94611
$495,000
2 bds
1 ba
771 sqft

- Condo for sale
14 hours ago
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625 Canyon Oaks Dr APT B, Oakland, CA 94605
$489,000
2 bds
2 ba
1,123 sqft

- Condo for sale
Open: Sat 1-4pm
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5 Embarcadero W APT 332, Oakland, CA 94607
$288,888
1 bd
1 ba
476 sqft

- Condo for sale
14 days on Zillow
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1555 Lakeside Dr APT 22, Oakland, CA 94612
THE CANLAS BROTHERS, Christian J. Rosales DRE #01987173
$589,000
2 bds
2 ba
1,234 sqft

- Condo for sale
8 days on Zillow
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1428 Madison St APT 307, Oakland, CA 94612
$349,000
2 bds
1 ba
758 sqft

- Condo for sale
Price cut: $50,000 (Jul 06)
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199 Montecito Ave APT 306, Oakland, CA 94610
VANGUARD PROPERTIES
$649,000
2 bds
2 ba
1,029 sqft

- Condo for sale
Open: Sat 2-4pm
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325 Lenox Ave APT 102, Oakland, CA 94610
$595,000
2 bds
2 ba
998 sqft

- Condo for sale
Open: Sun 2-4pm
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330 8th St APT 4H, Oakland, CA 94607
$299,999
2 bds
1 ba
829 sqft

- Condo for sale
8 days on Zillow
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IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Information is deemed reliable but not guaranteed.
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Bay East 2024. CCAR 2024. bridgeMLS 2024. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2024-07-27 06:53:51 PDT.
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Based on information from the MLSListings MLS as of 2024-07-27 07:12:26 PDT. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more

Oakland CA Condos & Apartments For Sale - 195 Listings | Zillow (2024)

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