Commentary Apartment rents in San Francisco and Silicon Valley continue to decline, while rental costs in Los Angeles rebounded slightly from their COVID-19 lows. San Francisco is still the most expensive city in the U.S. to rent a one-bedroom apartment, at $2,600 per month, but that is down 25 percent from last year, according to the most recent apartment rental market report from online apartment finder Zumper.com. San Francisco’s one-bedroom apartment rents are 1.9 percent lower than a month ago. In Silicon Valley, in San Jose, one-bedroom rents are down 16.7 percent from the year-ago period, including a 2.4 percent drop during the latest month. Rents throughout San Francisco and Silicon Valley fell precipitously during the pandemic as people across the U.S. fled high-density areas, where they had to share elevators, to low-density areas with plenty of green space. Apartment rents in Los Angeles had also been falling, but rebounded …