(Reuters) – San Franciscans have long blamed the technology sector for rising rents. Now, a study from real-estate company Trulia backs them up.
Rents are rising faster in U.S. tech hubs than in the rest of the country, Trulia said in a report released Thursday. In January, it said, rents rose 3.3 percent in the nation’s 100 biggest metropolitan areas in January, but they rose by an average of 5.7 percent in the 10 biggest tech hubs.
The report blamed the high prices on factors ranging from the lack of new-housing construction in many tech centers to the technology industry’s presence in areas that commanded top dollar even before the current technology boom.
