Interest from Generation Z in San Francisco and East Bay apartments doubled between 2020 and 2021.
Bay Area cities are hot again — if applications from Generation Z renters are any indication.
Interest from 17- to 25-year-olds in San Francisco and East Bay apartments doubled between 2020 and 2021, the fastest rise in the U.S. Applications from students and young professionals jumped 50% in San Jose over the same period. Most of the growth came in the last six months of 2021, as COVID-19 restrictions eased.
Bay Area rents tumbled in the first year of the COVID-19 pandemic, as offices closed or people worked in skeleton shifts and remote work took hold. Many young renters decamped to family homes, remote cities and rural towns, seeking cheaper rents and a different lifestyle. Homeownership is generally less vital to young professionals than older generations. A recent survey by Apartment List found Generation Z respondents half as likely as baby boomers to say home ownership was extremely important for their personal success.
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