While San Francisco is known for its urban setting, expensive home prices have caused people to seek out other location options.
In a contributed article on MarketWatch, San Francisco-based Realtor Linda Van Drent writes that many people and businesses are leaving San Francisco in search of a more affordable market. Oakland, Calif., has caught attention as a more affordable area for housing, arts, food, and technology. More than 16,000 new residents now call the quickly growing hot spot home.
"The neighborhoods on our list of the hottest neighborhoods for 2016 are the places we think home values will rise fastest over the next year," said Svenja Gudell, Zillow's chief economist. The five Oakland neighborhoods that made the fastest growing list are: Jefferson, Fairfax, Arroyo Viejo, Oak Knoll-Golf Links and Havenscourt.
Businesses used to worry that Oakland was a liability for recruiting. Now, many are finding it's a plus — workers can live in more affordable areas nearby and in many cases take BART, the Bay Area Transit System, to work.