{"id":2450,"date":"2021-11-22T12:47:19","date_gmt":"2021-11-22T12:47:19","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=2450"},"modified":"2023-09-21T11:11:28","modified_gmt":"2023-09-21T11:11:28","slug":"san-francisco-multifamily-market-report-fall-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-fall-2021\/","title":{"rendered":"San Francisco Multifamily Market Report &#8211; Fall 2021"},"content":{"rendered":"<h2>Volatility Persists, Demand Improves<\/h2>\n<p>While not out of the woods yet, the Bay Area\u2019s multifamily market is slowly rebounding, in part supported by early returners to the metro. Rents rose 1.2% on a trailing three-month basis through September to $2,640, with the occupancy rate in stabilized properties especially boosted in the Lifestyle segment, at 94.9%.<\/p>\n<p>The employment market still lags the nation (+2.5%), up less than 0.1% in the 12 months ending in July. Similarly, the unemployment rate\u2014at 5.6% in August\u2014was behind the 5.2% U.S. average, yet it outperformed the 7.5% state figure. Leisure and hospitality led gains, adding 54,700 jobs, or 27.8%, with leisure traffic reaching pre-pandemic levels. Consequently, United Airlines announced the addition of 4,000 jobs in the Bay Area. Professional and business services added 27,200 jobs, but the tech sector is still struggling, as a new spike in virus cases delayed the return to office for many employers. In addition, Tesla\u2019s relocation of its headquarters to Austin has been a blow. The biotech sector is thriving, thanks to life science companies\u2019 access to key fundamentals for this industry: talent, strong research partnerships and proximity to capital.<\/p>\n<p>Developers delivered 6,396 units in 2021 through September and had another 23,835 underway. Meanwhile, $1.7 billion in multifamily assets traded, with the per-unit price reaching $400,077.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1363-MatrixMultifamilySanFranciscoReport-Fall2021\"><strong>Matrix Multifamily San Francisco Report-Fall 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Volatility Persists, Demand Improves While not out of the woods yet, the Bay Area\u2019s multifamily market is slowly rebounding, in part supported by early returners to the metro. Rents rose 1.2% on a trailing three-month basis through September to $2,640, with the occupancy rate in stabilized properties especially boosted in the Lifestyle segment, at 94.9%. [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":2451,"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-2450","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 - Fall 2021 - Yardi Matrix Blog<\/title>\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-fall-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 - Fall 2021\" \/>\n<meta property=\"og:description\" content=\"Volatility Persists, Demand Improves While not out of the woods yet, the Bay Area\u2019s multifamily market is slowly rebounding, in part supported by early returners to the metro. Rents rose 1.2% on a trailing three-month basis through September to $2,640, with the occupancy rate in stabilized properties especially boosted in the Lifestyle segment, at 94.9%. [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-fall-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-22T12:47:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-21T11:11:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/11\/San-Francisco-iStock-1348953630.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=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"San Francisco Multifamily Market Report - Fall 2021 - Yardi Matrix Blog","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-fall-2021\/","og_locale":"en_US","og_type":"article","og_title":"San Francisco Multifamily Market Report - Fall 2021","og_description":"Volatility Persists, Demand Improves While not out of the woods yet, the Bay Area\u2019s multifamily market is slowly rebounding, in part supported by early returners to the metro. Rents rose 1.2% on a trailing three-month basis through September to $2,640, with the occupancy rate in stabilized properties especially boosted in the Lifestyle segment, at 94.9%. 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