Oakland is among the top 10 cities making a comeback, based on a recent Realtor.com report. Home prices have grown a whopping 111%, and the population has grown 13% since 2012. Median home prices are $688K.
High crime rates and shuttered buildings once gave this former “Detroit of the West” a bad name, and few people wanted to live in Oakland. Crime rates are down, especially in downtown Oakland. San Franciscans priced out of offices and homes have turned to the city as an affordable option. The area also benefits from public transit and two BART stations. A ride into downtown San Francisco takes 11 minutes.
Office rents are rising, and companies, such as Blue Shield, are moving their headquarters to downtown Oakland. Downtown Oakland also may soon get its first ground-up office development in years.
