The 150,585-unit Oakland-East Bay apartment market loosened up slightly in 2017, as the vacancy rate edged up 10 basis points over the year and 10 during the fourth quarter to 3.4%. Two projects with 659 units completed construction in January 2018 leaving 3,405 units under construction. The overall vacancy rate was 3.6% in January 2018. Rent gains have moderated after reaching the threshold of unaffordability. In 2017, the average asking rent increased 2.0% to $2,158 per month, with the average effective rent up 1.9% to $2,073 per month. The fourth quarter gains were 0.2% and 0.1%, respectively, and were followed by an increase of 0.3% by both measures in January 2018.