Oakland Retail Market Report

Declining apartment vacancy could create retail tailwinds. Oakland’s economy has shown early signs of emerging from a recent trough as the broader Bay Area recovery takes hold. As of June, apartment vacancy was down year-over-year by 180 basis points in Oakland-Berkeley, 90 basis points in San Ramon-Dublin, and 50 basis points in Walnut Creek. At the same time, Fremont vacancy remained in the mid-2 percent range, the lowest in the metro. These trends signal improving renter demand in some of Oakland’s strongest growth corridors, which could support consumer spending and retail space demand in the near term.