{"id":10107,"date":"2025-11-27T15:40:00","date_gmt":"2025-11-27T15:40:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=10107"},"modified":"2026-03-30T15:48:12","modified_gmt":"2026-03-30T15:48:12","slug":"san-francisco-multifamily-market-report-november-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-november-2025\/","title":{"rendered":"San Francisco Multifamily Market Report \u2013 November 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/san-francisco-multifamily-market-report\/\">San Francisco Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Rents Slow, Still Above U.S.<\/h2>\n<p>San Francisco\u2019s multifamily market ended the third quarter with a slower momentum, but some positive spots remain among the metro\u2019s fundamentals, according to the latest San Francisco multifamily market report. Average advertised asking rents were up 0.2%, on a trailing three-month basis through September, to an average of $2,926. Year-over-year, rates were up 2.6%, significantly ahead of the 0.9% U.S. figure. The large number of deliveries last year, along with continued economic uncertainty pressured performance. Still, overall average occupancy in stabilized assets remained healthy, at 95.8% as of August, 110 basis points above the U.S. rate, as noted in the <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report\/\">national multifamily market report<\/a><\/strong>.<\/p>\n<p><iframe id=\"datawrapper-chart-Qbqo4\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Francisco vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/Qbqo4\/1\/\" height=\"334\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script><\/p>\n<p>The metro\u2019s job market saw only slight improvement, as employment was down 0.5% year-over-year basis through July, trailing the nation by 130 basis points. Still, the contraction was smaller than at the start of the year. Unemployment stood at 4.8% in August, 50 basis points above the national figure, according to preliminary data from the Bureau of Labor Statistics. Over the 12-month pe\u0002riod ending in July, San Francisco lost 9,700 jobs. Only four sectors registered gains, for a total of 26,800 positions. Education and health services comprised the bulk of that, with 22,600 jobs.<\/p>\n<p><iframe id=\"datawrapper-chart-fIQcU\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Francisco Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/fIQcU\/1\/\" height=\"416\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script><\/p>\n<p>Following a stellar performance last year, when more than 10,000 units came online, development activity slowed down. Only 3,828 units were completed in the first three quarters of the year. In\u0002vestment picked up the pace, as $1.8 billion traded in this time frame, a 55.6% increase year-over-year.<\/p>\n<p>Read the full Yardi Matrix San Francisco Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/8083-MatrixMultifamilySanFranciscoReport-November2025\"><strong>November 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rents Slow, Still Above U.S. San Francisco\u2019s multifamily market ended the third quarter with a slower momentum, but some positive spots remain among the metro\u2019s fundamentals, according to the latest San Francisco multifamily market report. Average advertised asking rents were up 0.2%, on a trailing three-month basis through September, to an average of $2,926. Year-over-year, [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":9721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[513,430],"class_list":["post-10107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2025","tag-san-francisco"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Francisco Multifamily Market Report \u2013 November 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Advertised asking rents in San Francisco were up 0.2 percent on a T3 basis through September, Yardi Matrix data shows.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-november-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Francisco Multifamily Market Report \u2013 November 2025\" \/>\n<meta property=\"og:description\" content=\"Advertised asking rents in San Francisco were up 0.2 percent on a T3 basis through September, Yardi Matrix data shows.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-november-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-27T15:40:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-30T15:48:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2025\/08\/San-Francisco-iStock-2236334533-MHN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tudor Scolca-Seu\u0219an\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"San Francisco Multifamily Market Report \u2013 November 2025 - 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