{"id":9187,"date":"2025-03-13T08:55:00","date_gmt":"2025-03-13T08:55:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=9187"},"modified":"2025-08-05T09:02:32","modified_gmt":"2025-08-05T09:02:32","slug":"san-francisco-multifamily-market-report-february-2025","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-february-2025\/","title":{"rendered":"San Francisco Multifamily Market Report \u2013 February 2025"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/san-francisco-multifamily-market-report\/\">San Francisco Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Affordable Housing Dominates Pipeline<\/h2>\n<p>San Francisco\u2019s overall performance in 2024 was stable, amid seasonal slowdowns and economic challenges, according to the latest San Francisco multifamily market report. Average advertised asking rents declined 0.4%, on a trailing three-month basis through December, and by 0.5% year-over-year, to $2,786. Meanwhile, the U.S. rate rose 0.6% year-over-year. The occupancy rate in stabilized properties was up 30 basis points year-over-year through November, to 95.6%, ahead of the 94.7% U.S. figure, as noted in the\u00a0<strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/national-multifamily-market-report\/\">national multifamily market report<\/a><\/strong>.<\/p>\n<p><iframe id=\"datawrapper-chart-b85ID\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Francisco vs. National Rent Growth  \" src=\"https:\/\/datawrapper.dwcdn.net\/b85ID\/1\/\" height=\"329\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";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}}}))}();<br \/>\n<\/script><\/p>\n<p>Employment growth rebounded in 2024, climbing 0.6% year-over-year through November, but was still behind the 1.3% U.S. average. San Francisco added 14,300 net jobs over the 12-month period through November, led by education and health services (16,200) and trade, transportation and utilities (7,100). Half of the metro\u2019s sectors lost a combined 19,200 positions, with the most losses recorded in information (-9,100) and manufacturing (-6,500). The metro\u2019s unemployment rate stood at 4.3% in November, just above the 4.2% U.S. figure. Project updates include the completion of the first phase of San Francisco\u2019s Mission Rock 28-acre masterplan and the delivery of the first two buildings at Southline, a 31-acre science and technology development in South San Francisco.<\/p>\n<p><iframe id=\"datawrapper-chart-MeZYl\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"San Francisco Employment Share by Sector   \" src=\"https:\/\/datawrapper.dwcdn.net\/MeZYl\/1\/\" height=\"433\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";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}}}))}();<br \/>\n<\/script><\/p>\n<p>Developers delivered 7,754 units in 2024, down 13.9% year-over-year. The pipeline included 13,620 units under construction as of December. More than half of these were in fully affordable projects<\/p>\n<p>Read the full Yardi Matrix San Francisco Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6506-MatrixMultifamilySanFranciscoReport-November2024\"><strong>February 2025<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Affordable Housing Dominates Pipeline San Francisco\u2019s overall performance in 2024 was stable, amid seasonal slowdowns and economic challenges, according to the latest San Francisco multifamily market report. Average advertised asking rents declined 0.4%, on a trailing three-month basis through December, and by 0.5% year-over-year, to $2,786. Meanwhile, the U.S. rate rose 0.6% year-over-year. The occupancy [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[513,430],"class_list":["post-9187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2025","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 2025 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"San Francisco\u2019s advertised asking rents were down 0.1 percent on a T3 basis through September, to $2,811, while the U.S. rate stayed flat.\" \/>\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-february-2025\/\" \/>\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 February 2025\" \/>\n<meta property=\"og:description\" content=\"San Francisco\u2019s advertised asking rents were down 0.1 percent on a T3 basis through September, to $2,811, while the U.S. rate stayed flat.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-francisco-multifamily-market-report-february-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-13T08:55:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-05T09:02:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/12\/San-Francisco-iStock-2197398560-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\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 February 2025 - 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