While the pandemic changed San Francisco\u2019s paradigm, with residents leaving in pursuit of more affordable markets and housing options, the metro is slowly stabilizing again. Although rent growth was negative again, down 0.3% on a trailing three-month basis through September to $2,783, the period overlapped the start of the season, when gains typically slow down. This, in turn, helped occupancy remain nearly flat, declining 10 basis points year-over-year in August, to 95.3%. Meanwhile, the average U.S. asking rent also slid into negative territory, down 0.1% to $1,722, as noted in the national multifamily market outlook<\/strong><\/a>.<\/p>\n