These 10 Bay Area Cities Are Experiencing the Fastest Housing Appreciation
With real estate prices increasing all over the Bay Area, it’s no surprise that the chaos has now caught up to neighborhoods that have not historically been the most sought-after.
The San Francisco Business Times reports that 10 Bay Area cities in particular have seen their housing costs increase by more than 15 percent over the past five years alone, according to data from real estate site Trulia.
- East Palo Alto - Median home value of $787,700 / Five-year increase of 21.9 percent
- Richmond - Median home value of $445,600 / Five-year increase of 19.6 percent
- North Fair Oaks - Median home value of $885,000 / Five-year increase of 18.6 percent
- Pittsburg - Median home value of $386,200 / Five-year increase of 17.9 percent
- San Pablo - Median home value of $414,600 / Five-year increase of 17.9 percent
- Crockett - Median home value of $508,600 / Five-year increase of 17.3 percent
- Oakland - Median home value of $685,000 / Five-year increase of 16.4 percent
- Hayward - Median home value of $588,200 / Five-year increase of 16.2 percent
- Antioch - Median home value of $420,000 / Five-year increase of 16.0 percent
- Newark - Median home value of $754,900 / Five-year increase of 15.4 percent
A common theme among the cities on this list is that most are located in eastern Contra Costa County and southern Alameda County. Many of these cities are also adjacent to wealthier communities with higher median home prices. East Palo Alto and North Fair Oaks, for example, sit near Palo Alto, Menlo Park, and Atherton, where median home values are well over $1 million.
While the cities on this list have experienced the highest cost increases across the Bay Area, most still have median home prices below $500,000. That means these communities are still some of the most affordable in the Bay Area.