{"id":6686,"date":"2026-07-22T06:48:30","date_gmt":"2026-07-22T06:48:30","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=6686"},"modified":"2026-07-22T06:48:31","modified_gmt":"2026-07-22T06:48:31","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 July 2026"},"content":{"rendered":"<h2>Rents Accelerate, Supply Winds Down<\/h2>\n<p>San Francisco\u2019s multifamily market entered full recovery mode in the spring leasing season, with most fundamentals improving, according to the latest San Francisco multifamily market report. Average advertised asking rents were up 0.8%, on a trailing three-month basis through May, to an average of $3,019, 50 basis points ahead of the U.S. figure. Year-over-year rents increased 4.5%, placing San Francisco at the top of the ranking among the 30 major metros tracked by Yardi Matrix and 430 basis points higher than the national average. Overall occupancy ticked up 20 basis points, to 95.9% as of April, while the national figure clocked in at 94.1%, as noted in the <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report\/\">U.S. multifamily market report<\/a><\/strong>.<\/p>\n<p><iframe id=\"datawrapper-chart-RjqJv\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Francisco vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/RjqJv\/1\/\" height=\"334\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();<\/script><\/p>\n<p>Year-over-year employment growth in San Francisco was 0.2% through February, 30 basis points ahead of the U.S. rate. This marked the beginning of a recovery after more than 17 months of contractions. Unemployment improved as well, at 3.9% in April, 40 basis points below the U.S. and up 20 basis points year-over-year, according to preliminary data from the Bureau of Labor Statistics. Several transit and infrastructure mega projects are ongoing in the Bay Area and will likely boost transit-oriented residential development in the coming decade. Among recent projects, the SFMTA board approved $612 million for the Mission District bus yard modernization.<\/p>\n<p><iframe id=\"datawrapper-chart-ldc1a\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Francisco Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/ldc1a\/1\/\" height=\"416\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">(function(){function e(){window.addEventListener(`message`,function(e){if(e.data[`datawrapper-height`]!==void 0){var t=document.querySelectorAll(`iframe`);for(var n in e.data[`datawrapper-height`])for(var r=0,i;i=t[r];r++)if(i.contentWindow===e.source){var a=e.data[`datawrapper-height`][n]+`px`;i.style.height=a}}})}e()})();<\/script><\/p>\n<p>Supply expansion returned to a more moderate pace. Year-to-date through May, developers added 832 units, with another 11,639 units under construction.<\/p>\n<p>Read the full Yardi Matrix San Francisco Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/8965-MatrixMultifamilySanFranciscoReport-July2026\"><strong>July 2026<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rents Accelerate, Supply Winds Down San Francisco\u2019s multifamily market entered full recovery mode in the spring leasing season, with most fundamentals improving, according to the latest San Francisco multifamily market report. Average advertised asking rents were up 0.8%, on a trailing three-month basis through May, to an average of $3,019, 50 basis points ahead of [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":10618,"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 v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>San Francisco Multifamily Market Report \u2013 July 2026 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Get the latest San Francisco 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