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A07 Northbaybusinessjournal
A07 Northbaybusinessjournal
RENT Adam
Ensminger
continued from page 6 of Mike’s
Painting
touches up
exempt raised rents to meet what would the paint at
now be considered market-rate value. the Caritas
Village
Fair Housing Napa Valley Executive affordable
Director Pablo Zatarain said in Napa housing
County, they started to see rent increases complex,
as high as $600 emerge. which
includes 20
“That’s what’s gotten us to this point, apartments
and now these rents have caught up to located at
what ‘market-rate’ is,” he said. 2375 Old
Reporting from The Associated Press Sonoma Road
in Napa.
found that demand for apartments sky- The nonprofit
rocketed during the pandemic as people Caritas Corp.
sought to relocate due to jobs going opened the
remote. Across the country, developers development
this summer
of rental projects rushed to meet this to provide
demand. affordable
Commercial real estate tracker Co- housing for
Star found there are nearly 1.1 million the increase
in people
apartments currently under construction working
nationwide, a pace The Associated Press at service
said has not been seen since the 1970s. industry jobs
Sonoma State University economics in Napa that
cater to the
professor Rob Eyler said rent prices wine industry.
also tend to follow the housing market,
BETH SCHLANKER
with people typically renting in location- THE PRESS
swhere they hope to buy a home. DEMOCRAT