For the first time, Zillow's Oakland rent index surpasses $3k

OAKLAND, CA - DECEMBER 04: Rows of new homes line a street in a housing development on December 4, 2013 in Oakland, California. According to a Commerce Department report, sales of single family homes in the U.S. surged 25.4 percent in October, the larget gain in over 33 years. (Photo by Justin Sullivan/Getty Images) less OAKLAND, CA - DECEMBER 04: Rows of new homes line a street in a housing development on December 4, 2013 in Oakland, California. According to a Commerce Department report, sales of single family homes in the ... more Photo: Justin Sullivan, Getty Images Photo: Justin Sullivan, Getty Images Image 1 of / 10 Caption Close For the first time, Zillow's Oakland rent index surpasses $3k 1 / 10 Back to Gallery

For the first time, the Oakland rent index has blown past the $3,000 mark.

In September 2016, the rental score (which includes listing prices of all homes, not just studios) hit $3,003 a month, up 70.9 percent from $1,757 in January 2013.

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Rent indices, per the Financial Times, are measures of the level of rents in a geographic area over time. They're not always the most accurate form of measurement, but Zillow's methodology attempts to subvert calculation errors by basing their index scores on "proprietary statistical and machine learning models" that since 2010 have kept watch on rental listings and learned the values of various attributes of each home to predict the "prevailing" rent.

The news comes at a time where East Bay housing affordability advocates are pushing for support of Measure KK on this November's ballot in Oakland. The measure would provide a budget for protecting long-term Oakland residents at risk of displacement, including veterans, seniors, and those with disabilities.

Per Zillow, house values in Oakland have also increased dramatically. The average home in the city now costs more than $620,000, which is double what it was in 2012.