Matrix Multifamily San Francisco Report-July 2026 July 15, 2026

San Francisco’s solid spring

Rent growth accelerated in the metro, with the T3 rate clocking in at 0.8 percent in May, to an average of $3,019, 50 bps ahead of the U.S. average. YoY growth reached 4.5%, placing San Francisco at the top of the list of 30 major metros tracked by Yardi Matrix. Supply began to slow, with just 832 units completed in the first five months.