The weighted average asking rent for an apartment in San Francisco has effectively held at around $3,600 over the past quarter, which is less than 3 percent higher than at the same time last year, 12 percent lower than prior to the pandemic and 19 percent below its 2015-era peak of nearly $4,500 a month, with the average asking rent for a one-bedroom in San Francisco holding at around $3,000 per month (which is less than 2 percent higher than at the same time last year, 15 percent lower than prior to the pandemic and 19 percent below peak).
At the same time, the number of apartments listed for rent in San Francisco ticked up a (1) percent over the past month, with 13 percent more units now listed for rent than there were prior to the pandemic, the inventory of condos and single-family homes for sale across the city ticking up, and the cost of capital having jumped.
Our analysis of the rental market in San Francisco is based on over 170,000 data points going back to 2004 that we maintain, normalize and index on a monthly basis, not simply a few years of data or recollections. We’ll keep you posted and plugged-in.
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