The hottest Bay Area neighborhoods for housing in 2016 will all be in Oakland, predicts Zillow
Photo: Jesse Richmond
This week Zillow unveiled their predictions for the hottest neighborhoods for housing in the Bay Area in 2016. Unsurprisingly, the top seven are all in Oakland. What with Uber moving in, and San Francisco rent becoming too expensive even for the tech community, East Bay migration is inevitable.
As Zillow chief economist Svenja Gudell told the San Francisco Business Times: “Oakland’s going to look a lot different at the end of 2016 than it did at the beginning.”
Below is a brief rundown of the seven Bay Area neighborhoods that Zillow expects to post the largest gains on their Home Value Index over the next 12 months.
Jefferson — 8.8 percent home price growth
Jefferson is part of the Fruitvale district in East Oakland. East Bay Express has called it the new hipster hangout, replacing San Francisco’s Mission neighborhood with its cheap tacos and vibrant culture. In terms of crime rates, the Fruitvale BART station was in the top five stations for violent crime per capita in 2014, events which spurred the making of the film Fruitvale Station.
Fairfax — 8.4 percent home price growth
If you travel deeper into East Oakland, you’ll find Fairfax. In the early 20th century you might have traveled here for its superb shopping opportunities — it was previously known as Antique Row. In 2016 you’ll find low, low rent (for Oakland) and businesses beginning to flourish again. Median housing value is currently at $336,000 and the median household income is $40,919.
Arroyo Viejo — 8.1 percent home price growth
Drive a few neighborhoods east of Fairfax and you’ll hit Arroyo Viejo, which means “old creek” in Spanish. Population is a little over 5,500, but population density is more than double the Oakland average. The median household income is $37,709. Something for new and current residents to look forward to, especially young families, is The Arroyo Viejo Recreation Center. It’s open to the public and features an amphitheatre, baseball and soccer fields, and picnic tables.
Old City — 7.4 percent home price growth
Photo: Emilie Raguso
Old City, aka Old Oakland, is in a prime central location a few blocks south of 12th Street BART and a few blocks north of Jack London Square. It was the original downtown of Oakland during the 1860’s, but the area’s popularity declined after the 1906 earthquake.
Oak Knoll-Golf Links — 7.4 percent home price growth
Oak Knoll was the location of a US naval hospital from 1942 to 1996. Since its demolition in 2011, developer SunCal has filed plans to build a 935-unit mixed-use development on the site.
Havenscourt — 7.4 percent home price growth
Located between Fairfax and Arroyo Viejo is Havenscourt, which is tied in home price growth projection with Oak Knoll-Golf Links and Old City at 7.4 percent. In Havenscourt, the crime rate is 38 percent higher than the Oakland average, with a median household income of $37,181. Despite the worrying rate of crime, there are plenty of amenities, including grocery stores, access to public transportation, schools, and restaurants.
Cox — 7.2 percent home price growth
Furthest east on the list is Cox, a neighborhood with a bustling International Boulevard where you’ll find many murals, parks, and businesses. The cost of living in Cox is 13.8 per cent less than the Oakland average.