Despite a stagnant real estate market in Redwood City, rental prices are on the rise from last year, averaging $1,892 a month. There was an 8.2 percent year-to-year growth, reported the San Jose Mercury News.
The San Francisco metro area, encompassing the Peninsula, East Bay and Marin County, had the second-highest monthly rents at $1,644 among 43 metro areas surveyed by RealFacts, an apartment rental research company. The area had the third-highest year-over-year increase, at 7.6 percent.
The most expensive cities to live in, according to the report, were Palo Alto and Cupertino, at $2,450 and $2,168, respectively. Both cities experienced an increase of about 14 percent.
To offset the steadily increasing rent prices, Redwood City has repeatedly pushed for more below market rate housing for residents. To provide below market housing, the city must front the difference between at market housing and the price tag that they wish to present to potential renters.
Current projects include:
, some units would be 15 percent below market rate housing
104 Cedar Street, 15 unit residential facility for low income households and people with disabilities developed by the Mental Health Association
, the old Dodge dealership, with some units for below market housing developed by BRE
The city’s planning department was not able to return calls at this time.
There are currently several below market housing options in our city, according to the San Mateo County Housing Office.
Project Address Building Type # of Units # of Affordable Units Unit Type Resident Eligibility Berkshire Avenue Group Home 40 Berkshire Ave. Group Home 6 6 Shared People w/ Disability Casa de Redwood 1280 Veterans Blvd. Apartment 134 134 Studio, 1 bd Seniors Cassia St. Group Home 420 Cassia St. Group Home 14 14 group home People w/ Disability City Center Plaza 950 Main St. at Middlefield Apartment 81 80 1-4 bd All Franklin St. Apartments 1 Maple St. at El Camino Real Apartment 204 31 1-2 bd All Hallmark Apartments 531 Woodside Rd. Apartment 72 72 Studio, 1 bd All Hilton House 606 Hilton St. Shared Housing 6 6 Shared Single Parent Hope House IV 924 4th Ave. Transitional Housing 1 6 beds Shared Re-entry individuals from incarceration Hope House V 96 Buckingham Ave. Transitional Housing 1 6 beds Shared Re-entry individuals from incarceration Hope House VI 2820 Huntington Ave. Transitional Housing 1 6 beds Shared Re-entry individuals from incarceration Housing First 1306 Main St. Apartment 23 22 Studio Units Low and very low income individuals and small family households Hurlingame Permanent Houing 791 Hurlingame Ave. Single Family home 6 6 Shared Disabled Kainos A & B House 3631 Jefferson Ave. Group Home 10 10 Shared People w/ Disability Kainos Group Home 3631 Jefferson Ave. Group Home 11 11 Shared People w/ Disability Kainos Group La Vista 3631 Jefferson Ave. Group Home 17 17 Shared People w/ Disability Kainos Triplex 1209 Chantal Way Group Home 20 20 Shared People w/ Disability North Fair Oaks Family Housing Hampshire at Halsey Apartment 60 12 2-3 bd Family Oxford Street Apartments 1505-1509 Oxford Street Apartment 3 3 2 bd Family Pescadero Apartments 950 Redwood Shores Parkway Apartment 170 20 2 bd Seniors, Family Pine/Middlefield Shared Housing 508 Pine Street Shared Housing 6 6 Shared Single Parent Redwood City Commons 875 Walnut Street Apartment 58 58 1 bd Seniors, People w/ Disabilities Redwood Court 635 Spruce Street Apartment 27 27 2-3 bd Family Redwood Oaks 330-340 Redwood Avenue Apartment 36 35 1-2 bd All Rolison Road Apartments 3272 Rolison Road Apartment 7 7 1-2 bd All Sanchez Way 1234-36 Sanchez Way Group Home 5 5 Shared People w/ Disability St. Clare Apartments 2683 Marlborough Avenue Apartment 24 24 Studio, 1 bd Family Villa Montgomery 1500 El Camino Real Mixed 58 58 Studio, 1-3 bd All Wy's House 2033 Jefferson Avenue Group Home 5 5 Shared People w/ Disability YAIL 37 Clinton Avenue Four-plex 6 6 2 bd Disabled