The average apartment rent through March rose from the previous year in all 19 major Western markets surveyed by the research firm RealFacts,
San Jose, Calif. — the heart of Silicon Valley — is now the West’s most expensive rental market, with the average apartment leasing for $1,660 per month, up 9.1 percent, $139 per month, from the same time last year. That means a Silicon Valley renter can expect to pay nearly $20,000 to lease an average apartment during the next year.
Tucson, Ariz. offers the West’s least expensive apartments, with rents creeping up 2 percent to $668 per month.
Source: The Associated Press, Michael Liedtke (04/16/2008)