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partment rents have declined in nine of California's 16 largest cities, with Oakland leading the nation in rent drops. According to ApartmentList, Oakland saw an 8.8% decline in August from a year earlier, the largest drop nationwide. Despite this, Oakland's rents remain relatively high, with landlords asking $1,793 for a one-bedroom unit and $2,153 for a two-bedroom apartment.

    In other California cities, renters have benefited from falling rents. San Francisco saw a 0.5% decline in rent year-over-year, but still commands the nation's highest rents at $2,752 for a one-bedroom and $3,262 for a two-bedroom. Fremont across the Bay saw a 0.9% drop, with landlords asking $2,297 for a one-bedroom and $2,783 for a two-bedroom.

    In contrast to these cities, apartment rents rose or remained flat in seven large California cities. San Jose saw a 1.9% increase, with landlords seeking $2,503 for a one-bedroom unit and $2,969 for a two-bedroom. Other cities where rents increased include Fresno, Moreno Valley, Anaheim, Sacramento, and Santa Clarita.

    The decline in apartment rents is attributed to a combination of factors, including a shaky economy with elevated unemployment, which has eased demand for rentals and led some landlords to cut prices or offer incentives to fill empty units.