{"id":1424,"date":"2021-07-26T10:27:06","date_gmt":"2021-07-26T10:27:06","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=1424"},"modified":"2024-02-06T11:13:44","modified_gmt":"2024-02-06T11:13:44","slug":"san-francisco-multifamily-market-report-summer-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/","title":{"rendered":"San Francisco Multifamily Market Report \u2013 Summer 2021"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Tech Sector Powers Economic Rebound<\/h3>\n\n\n\n<p>San Francisco and other gateway markets were last to enter the recovery phase and have a lot of catching up to do. May marked the second consecutive month of <strong>positive rent growth in San Francisco<\/strong>, with the average rent rising 0.4% on a trailing three-month basis, to $2,475. Meanwhile, the national rate registered a 0.6% increase, to $1,428. The steady flow of apartment deliveries and resident relocations spurred by the health crisis left a mark on the occupancy rate in stabilized properties, down 220 basis points year-over-year as of April, to 92.4%.<\/p>\n\n\n\n<p>The unemployment rate dropped to 5.8% in April, 30 basis points below the 6.1% national average, according to preliminary data from the Bureau of Labor Statistics. The job market on the other hand posted a 10.7% decline in the 12 months ending in March, trailing the -6.9% U.S. rate. Still, a rebound is underway, led by major employers from the tech sector that are reopening offices. With some companies requiring their employees to work from the office a few days a week, demand for apartments should increase.<\/p>\n\n\n\n<p>Despite rising construction costs, development activity remained elevated, with 25,455 units underway and 1,913 units delivered through May. Meanwhile, $911 million in multifamily units traded through May, with investors focused on value-add plays, which further decreased the price per unit by 5.8% to $399,389.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1291-MatrixMultifamilySanFranciscoReport-Summer2021?utm_source=Matrix-Blog&amp;utm_medium=Social\">Matrix Multifamily San Francisco Report-Summer 2021<\/a><\/strong><\/p>\n\n\n\n<div class=\"wp-block-spacer\" style=\"height: 45px;\" aria-hidden=\"true\">\u00a0<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tech Sector Powers Economic Rebound San Francisco and other gateway markets were last to enter the recovery phase and have a lot of catching up to do. May marked the second consecutive month of positive rent growth in San Francisco, with the average rent rising 0.4% on a trailing three-month basis, to $2,475. Meanwhile, the [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":1425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,430],"class_list":["post-1424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","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 Summer 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"San Francisco rents posted the second consecutive month of positive performance, rising 0.4% on a trailing three-month basis through May to $2,475.\" \/>\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-summer-2021\/\" \/>\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 Summer 2021\" \/>\n<meta property=\"og:description\" content=\"San Francisco rents posted the second consecutive month of positive performance, rising 0.4% on a trailing three-month basis through May to $2,475.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-26T10:27:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-06T11:13:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/07\/San-Francisco-Matrix-Report-iStock-1325780807.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\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 Summer 2021 - Yardi Matrix Blog","description":"San Francisco rents posted the second consecutive month of positive performance, rising 0.4% on a trailing three-month basis through May to $2,475.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/","og_locale":"en_US","og_type":"article","og_title":"San Francisco Multifamily Market Report \u2013 Summer 2021","og_description":"San Francisco rents posted the second consecutive month of positive performance, rising 0.4% on a trailing three-month basis through May to $2,475.","og_url":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-07-26T10:27:06+00:00","article_modified_time":"2024-02-06T11:13:44+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/07\/San-Francisco-Matrix-Report-iStock-1325780807.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"San Francisco Multifamily Market Report \u2013 Summer 2021","datePublished":"2021-07-26T10:27:06+00:00","dateModified":"2024-02-06T11:13:44+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/"},"wordCount":227,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/07\/San-Francisco-Matrix-Report-iStock-1325780807.jpg","keywords":["Multifamily Outlook 2021","San Francisco"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/","url":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/","name":"San Francisco Multifamily Market Report \u2013 Summer 2021 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/07\/San-Francisco-Matrix-Report-iStock-1325780807.jpg","datePublished":"2021-07-26T10:27:06+00:00","dateModified":"2024-02-06T11:13:44+00:00","description":"San Francisco rents posted the second consecutive month of positive performance, rising 0.4% on a trailing three-month basis through May to $2,475.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/07\/San-Francisco-Matrix-Report-iStock-1325780807.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/07\/San-Francisco-Matrix-Report-iStock-1325780807.jpg","width":1200,"height":628,"caption":"Image by Larry Crain\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-summer-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"San Francisco Multifamily Market Report \u2013 Summer 2021"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0","name":"lilianam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","caption":"lilianam"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/07\/San-Francisco-Matrix-Report-iStock-1325780807.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/1424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=1424"}],"version-history":[{"count":4,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/1424\/revisions"}],"predecessor-version":[{"id":4492,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/1424\/revisions\/4492"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/1425"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=1424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=1424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=1424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}