{"id":6686,"date":"2026-03-05T09:02:00","date_gmt":"2026-03-05T09:02:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6686"},"modified":"2026-03-30T15:48:11","modified_gmt":"2026-03-30T15:48:11","slug":"san-francisco-multifamily-market-report","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report\/","title":{"rendered":"San Francisco Multifamily Market Report \u2013 February 2026"},"content":{"rendered":"<h2>Short-Term Rents Soften, Occupancy Climbs<\/h2>\n<p><br \/>San Francisco\u2019s fundamentals softened at year-end 2025, as average advertised asking rents fell 0.4%, on a trailing three-month basis through December, to $2,885, while the national rate declined 0.3% to $1,737, according to the latest San Francisco multifamily market report. Year-over-year, rents rose 1.9%, marking the fifth strongest performance among Yardi Matrix\u2019s top 30 metros. The occupancy rate in stabilized properties continued to climb, up 40 basis points year-over-year, to 95.8% in November.<\/p>\n<p><iframe id=\"datawrapper-chart-fzTeY\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Francisco vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/fzTeY\/1\/\" height=\"326\" 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>\u00a0<\/p>\n<p><br \/>Employment was down 0.5% year-over-year through September, while the national average was up 0.8%, as noted in the <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report\/\">national multifamily market report<\/a><\/strong>. Unemployment held at 4.4% in November, on par with the U.S. and below the state (5.5%). San Francisco lost 12,100 net jobs in the 12 months ending in September, with gains recorded only in education and health services (21,600 jobs) and other services (1,300). All other sectors lost 35,000 jobs combined, with professional and business services (-11,200) and manufacturing (-8,900) taking the largest hits. Notable project updates included the $2.6 billion Terminal 3 West Modernization at San Francisco International Airport and UCSF\u2019s Helen Diller Hospital at Parnassus Heights moving forward under a $4.3 billion budget, with an expected opening in 2030.<\/p>\n<p><iframe id=\"datawrapper-chart-RNMsV\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Francisco Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/RNMsV\/1\/\" height=\"417\" 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>\u00a0<\/p>\n<p><br \/>Supply growth moderated in 2025, with 5,811 units delivered and 10,851 underway. Investment volume totaled $2.4 billion in 2025, and the average price per unit rose 20% year-over-year, to $415,946 in December.<\/p>\n<p>Read the full Yardi Matrix San Francisco Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/8387-MatrixMultifamilySanFranciscoReport-February2026\"><strong>February 2026<\/strong><\/a><\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Short-Term Rents Soften, Occupancy Climbs San Francisco\u2019s fundamentals softened at year-end 2025, as average advertised asking rents fell 0.4%, on a trailing three-month basis through December, to $2,885, while the national rate declined 0.3% to $1,737, according to the latest San Francisco multifamily market report. Year-over-year, rents rose 1.9%, marking the fifth strongest performance among [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":10109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[519,430],"class_list":["post-6686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2026","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 February 2026 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Get the latest San Francisco multifamily market report from Yardi Matrix to learn about market 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