Rents in San Francisco Lower Than at the Same Time Last Year

Based on a comparison of over 2,000 listings in San Francisco proper, including one-off rentals as well as units in larger developments, the weighted average asking rent for an apartment in San Francisco is currently running around $4,250 a month ($3,400 for a one-bedroom), which is 1.9 percent below the weighted average asking rent at the same time last year and 4.7 percent below a peak of around $4,450 in the fourth quarter of 2015. And yes, that’s despite an “end of story” increase in employment over the past year.

That being said, the average asking rent in the city has ticked up around 2 percent since the second quarter of the year with seasonality in play (rents in San Francisco typically rise through the end of summer).

But at the same time last year, rents were running around 1.4 percent higher on a year-over-year basis versus 1.9 percent lower right now.

credit: socketsite