Having ticked up for the first time in eight months last month, the weighted average asking rent for an apartment in San Francisco has since ticked up nearly 4 percent to $3,460 a month.

That being said, the average asking rent in San Francisco still 2 percent lower than at the same time last year and 22 percent below its 2015-era peak of nearly $4,500 a month, with the average asking rent for a one-bedroom in San Francisco still holding at a little under $3,000 per month, which is 2 percent lower than at the same time last year and over 20 percent below peak.

At the same time, the number of apartments listed for rent in San Francisco (i.e., inventory) has just dropped below pre-pandemic levels, at which point the average asking rent was 16 percent higher, with a lower cost of capital and more people in the local labor force and employed, and listed inventory levels are down nearly 10 percent, year-over-year, facts that aren’t “bearish” or “pessimistic” in nature but key to understanding and acting on the actual market trends, none of which should catch any plugged-in readers, other than the most obstinate, by surprise.

Keep in mind that our analyses of the rental market in San Francisco are based on over 200,000 data points going back two decades that we maintain, normalize and index on a monthly basis (versus relying on a few years of data or “recollections”). We’ll keep you posted and plugged-in.

3 thoughts on “Average Asking Rent in S.F. Trending Up, Inventory Down”
  1. Just like last month, you’ve failed to define what you’re measuring here. Average asking rent of what? 1 bedroom? 2? An average of all studio, 1 & 2 bedroom? Are 3 bedroom excluded? You claim to have 200,000 data points but it’s impossible to know what you’re measuring here and makes the statistic meaningless

    1. Believe it or not, the “weighted average asking rent for an apartment in San Francisco” is the weighted average of all available inventory, which takes into account changes in inventory and mix as well. And just like last month, and months prior, we do provide the one-bedroom specific stat and trend above.

  2. I’m having no trouble getting apartments leased for their 2019 price-points.
    If only the condo resale market were as strong.

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