Annual Rent Increase for 3/1/24 – 2/28/25 Announced
For rent-controlled units, the annual allowable increase amount effective March 1, 2024 through February 28, 2025 is 1.7%.
November 17, 2023
For rent-controlled units, the annual allowable increase amount effective March 1, 2024 through February 28, 2025 is 1.7%. This amount is based on 60% of the increase in the Consumer Price Index for All Urban Consumers in the Bay Area, which was 2.8% as posted in November 2022 by the Bureau of Labor Statistics. To calculate the dollar amount of the 1.7% annual rent increase, multiply the tenant’s base rent by .017. For example, if the tenant’s base rent is $2,000.00, the annual increase would be calculated as follows: $2,000.00 x .017 = $34.00. The tenant’s new base rent would be $2,034.00 ($2,000.00 + $34.00).
The annual allowable increase amount effective March 1, 2023 through February 29, 2024 is 3.6%.
Read this article to learn more about rent increases.
Here’s a complete list of past annual allowable increases. This document is also available in our office.