What's actually happening with Bay Area housing
How much housing is getting built, and what it costs to rent or buy, across San Francisco, Alameda, Contra Costa, and Marin counties.
Building pipeline
Housing units permitted and completed each year, by county and city.
The RHNA income categories. Re-scales the pipeline chart, its table, and the RHNA pace.
Outlined bars aren't whole-county totals. Contra Costa County 2022 and Contra Costa County 2025 are missing a jurisdiction with no figure in Table A2 for that year. Faded bars without an outline are complete but provisional. Details in the table below.
View as table
| Year | Alameda County | Contra Costa County | Marin County | San Francisco |
|---|---|---|---|---|
| 2021 | 6,275 | 3,622 | 487 | 2,221 |
| 2022 | 6,839 | 3,089 (partial) | 471 | 2,852 |
| 2023 | 5,335 | 3,358 | 520 | 3,055 |
| 2024 | 4,370 | 2,311 | 442 | 1,073 |
| 2025 | 5,011 | 2,669 (partial) | 486 | 1,959 |
Partial totals. A county figure adds up only the jurisdictions with data for that year, so these are not whole-county totals: Contra Costa County 2022 is missing Brentwood and Contra Costa County 2025 is missing Clayton. Every figure here is the sum of what was actually reported, so a partial year is at least the figure shown. We can't tell a jurisdiction with nothing to report from one that skipped its report, so we don't fill the gap in.
Are they on RHNA pace?
On pace = 100%. Where a jurisdiction should be this far into its 2023–2031 RHNA cycle if it were building steadily.
-
San Francisco 16% of pace
5,828 permitted of a 36,400 prorated target · 82,069-unit 6th-cycle target by 2031
-
Marin County 16% of pace
1,040 permitted of a 6,389 prorated target · 14,405-unit 6th-cycle target by 2031
-
Contra Costa County 27% of pace
5,901 permitted of a 21,752 prorated target · 49,043-unit 6th-cycle target by 2031
-
Alameda County 27% of pace
10,827 permitted of a 39,473 prorated target · 88,997-unit 6th-cycle target by 2031
RHNA data: California Department of Housing and Community Development, as of August 2026
California Department of Housing and Community Development · Data as of August 2026 · About this data
Self-reported by jurisdictions; not independently verified by HCD. The most recent year is provisional: reports were due in April and late filers keep arriving, so the latest year's counts typically rise for months.
47 of 48 jurisdictions have reported 2025 data so far. Not yet reported: Clayton. Their 2025 figures are left blank, and a county total missing one of them is marked "(partial)".
Home values
Typical home value, by county and city.
View as table
| Month | Alameda County | Contra Costa County | Marin County | San Francisco |
|---|---|---|---|---|
| Jul 2021 | $1,055,874 | $804,728 | $1,406,623 | $1,405,448 |
| Aug 2021 | $1,064,944 | $811,992 | $1,413,490 | $1,416,829 |
| Sep 2021 | $1,068,386 | $814,354 | $1,411,638 | $1,423,639 |
| Oct 2021 | $1,070,730 | $815,484 | $1,405,933 | $1,427,868 |
| Nov 2021 | $1,076,978 | $818,744 | $1,405,739 | $1,436,105 |
| Dec 2021 | $1,086,709 | $824,280 | $1,410,562 | $1,444,428 |
| Jan 2022 | $1,105,499 | $834,937 | $1,434,482 | $1,453,600 |
| Feb 2022 | $1,134,066 | $850,359 | $1,471,312 | $1,467,971 |
| Mar 2022 | $1,169,737 | $869,941 | $1,520,403 | $1,488,050 |
| Apr 2022 | $1,198,905 | $886,665 | $1,559,079 | $1,505,401 |
| May 2022 | $1,215,031 | $897,033 | $1,587,867 | $1,511,714 |
| Jun 2022 | $1,215,670 | $899,010 | $1,601,505 | $1,504,113 |
| Jul 2022 | $1,201,192 | $891,960 | $1,596,979 | $1,484,223 |
| Aug 2022 | $1,175,709 | $877,790 | $1,574,969 | $1,453,365 |
| Sep 2022 | $1,145,812 | $861,074 | $1,544,984 | $1,418,223 |
| Oct 2022 | $1,121,961 | $847,521 | $1,521,281 | $1,387,899 |
| Nov 2022 | $1,105,140 | $837,294 | $1,501,779 | $1,363,337 |
| Dec 2022 | $1,094,157 | $828,787 | $1,481,750 | $1,343,138 |
| Jan 2023 | $1,082,358 | $819,166 | $1,454,102 | $1,320,081 |
| Feb 2023 | $1,072,442 | $811,120 | $1,430,787 | $1,300,615 |
| Mar 2023 | $1,065,757 | $805,186 | $1,414,226 | $1,285,783 |
| Apr 2023 | $1,064,822 | $803,728 | $1,411,829 | $1,280,874 |
| May 2023 | $1,068,316 | $805,628 | $1,417,023 | $1,277,571 |
| Jun 2023 | $1,073,964 | $810,008 | $1,428,836 | $1,276,424 |
| Jul 2023 | $1,081,991 | $815,499 | $1,446,377 | $1,276,012 |
| Aug 2023 | $1,090,996 | $820,172 | $1,465,240 | $1,278,764 |
| Sep 2023 | $1,100,289 | $823,642 | $1,482,753 | $1,281,752 |
| Oct 2023 | $1,108,084 | $826,124 | $1,493,562 | $1,281,463 |
| Nov 2023 | $1,112,714 | $826,965 | $1,495,117 | $1,276,627 |
| Dec 2023 | $1,113,856 | $826,947 | $1,486,653 | $1,268,309 |
| Jan 2024 | $1,112,301 | $825,485 | $1,471,610 | $1,258,226 |
| Feb 2024 | $1,112,718 | $825,496 | $1,460,286 | $1,250,070 |
| Mar 2024 | $1,120,377 | $828,792 | $1,464,408 | $1,251,245 |
| Apr 2024 | $1,134,447 | $834,754 | $1,480,201 | $1,260,828 |
| May 2024 | $1,148,865 | $839,952 | $1,496,967 | $1,274,021 |
| Jun 2024 | $1,156,210 | $841,402 | $1,503,884 | $1,280,632 |
| Jul 2024 | $1,158,462 | $840,534 | $1,504,736 | $1,284,238 |
| Aug 2024 | $1,155,974 | $838,044 | $1,502,748 | $1,284,168 |
| Sep 2024 | $1,152,853 | $835,615 | $1,501,347 | $1,284,164 |
| Oct 2024 | $1,148,704 | $833,206 | $1,497,503 | $1,282,206 |
| Nov 2024 | $1,147,337 | $832,437 | $1,493,942 | $1,282,998 |
| Dec 2024 | $1,147,245 | $832,229 | $1,490,115 | $1,285,810 |
| Jan 2025 | $1,146,258 | $831,221 | $1,486,530 | $1,288,246 |
| Feb 2025 | $1,144,668 | $828,715 | $1,482,798 | $1,288,830 |
| Mar 2025 | $1,141,320 | $824,486 | $1,477,561 | $1,287,288 |
| Apr 2025 | $1,136,548 | $819,564 | $1,471,485 | $1,285,685 |
| May 2025 | $1,127,361 | $813,479 | $1,464,785 | $1,281,262 |
| Jun 2025 | $1,114,659 | $806,952 | $1,457,996 | $1,274,992 |
| Jul 2025 | $1,101,988 | $801,185 | $1,454,208 | $1,270,299 |
| Aug 2025 | $1,090,470 | $796,626 | $1,452,961 | $1,268,758 |
| Sep 2025 | $1,084,409 | $793,839 | $1,456,008 | $1,272,661 |
| Oct 2025 | $1,082,589 | $792,714 | $1,460,605 | $1,281,759 |
| Nov 2025 | $1,084,566 | $792,702 | $1,465,966 | $1,294,906 |
| Dec 2025 | $1,087,144 | $793,776 | $1,471,526 | $1,312,886 |
| Jan 2026 | $1,087,266 | $793,594 | $1,476,981 | $1,327,856 |
| Feb 2026 | $1,086,178 | $792,832 | $1,483,507 | $1,340,887 |
| Mar 2026 | $1,084,339 | $791,424 | $1,490,046 | $1,351,458 |
| Apr 2026 | $1,081,783 | $789,687 | $1,495,784 | $1,362,811 |
| May 2026 | $1,079,131 | $788,201 | $1,500,807 | $1,378,775 |
| Jun 2026 | $1,076,798 | $786,730 | $1,504,466 | $1,395,852 |
Data provided by Zillow · Data as of June 2026 · About this data
Rents, homes, and jobs
Alameda County
Typical asking rent, as published
$2,895 Jun 2026
up 4.8% over the year
up 0.8% adjusted for inflation
Typical asking rent, constant 2025 $
Per 1,000 existing homes, by year: completed (darker) and permitted (lighter)
Change in employed residents per 1,000 residents, by year
Contra Costa County
Typical asking rent, as published
$2,901 Jun 2026
up 3.2% over the year
down 0.8% adjusted for inflation
Typical asking rent, constant 2025 $
Per 1,000 existing homes, by year: completed (darker) and permitted (lighter)
Change in employed residents per 1,000 residents, by year
Marin County
Typical asking rent, as published
$3,750 Jun 2026
up 4.3% over the year
up 0.2% adjusted for inflation
Typical asking rent, constant 2025 $
Per 1,000 existing homes, by year: completed (darker) and permitted (lighter)
Change in employed residents per 1,000 residents, by year
San Francisco
Typical asking rent, as published
$4,401 Jun 2026
up 20.4% over the year
up 15.7% adjusted for inflation
Typical asking rent, constant 2025 $
Per 1,000 existing homes, by year: completed (darker) and permitted (lighter)
Change in employed residents per 1,000 residents, by year
Three series on one timeline is not a cause. Building can affect rents, and building and rents both respond to the same local demand, but nothing here tells you how much of any of this movement was which.
The lighter bar beside each one is homes permitted that year, the same rate on the same scale. It is future pipeline with uncertain timing and uncertain realisation, not a forecast: a permit is not a home, and these are different project cohorts rather than the same homes at two stages, so the difference between the two bars is not a conversion rate. They sit side by side rather than one inside the other for that reason. For the conversion question see the building pipeline panel. Hide permits
What was going on
The chart cannot tell you why any of these lines moved. These notes give the context that is actually established, and say where it stops.
2020 to 2022
Housing demand moved, and the count of who moved was itself revised
Bay Area rents fell sharply in 2020 and took years to recover. Two things about the period are documented, and neither is a measurement of this chart. Migration changed, by less than first reported. The California Policy Lab estimated in December 2021 that moves into California had fallen 38% since the start of the pandemic, then corrected that to 8% in April 2022 after finding a methodological error that had undercounted arrivals. Its estimates of departures were not affected by the error and did rise, and by the last quarter of 2021 it found Bay Area entrances rising again while still differing from before the pandemic. Separately, remote work changed what housing people wanted: San Francisco Fed researchers estimated the shift accounted for about 60% of national house price growth between November 2019 and November 2021, by moving demand toward space and away from proximity to a workplace. That study measured national house prices, not Bay Area rents. It is a reason to expect demand to move. It is not a measurement of where it moved to, and we have not measured that here. None of it explains the building line either: a home completed in these years was permitted before it was completed, so those bars record decisions taken earlier.
Sources: California Policy Lab: New and Corrected Estimates of California Migration Patterns (April 2022, correcting the December 2021 release); Kmetz, Mondragon and Wieland, Remote Work and Housing Demand, FRBSF Economic Letter 2022-26
since 2023
Building money got expensive and has not fully come back
The cost of borrowing rose steeply and remains well above where it was. The federal funds rate went from effectively zero through 2021 to above 5% by mid-2023, and was still above 3.5% in late 2026. Through 2023 and 2024, the Federal Reserve's quarterly survey of senior bank loan officers recorded banks tightening their standards on commercial real estate construction and land development lending; that is a statement about those years, not about today. What this means for the bars on this chart is an inference and not something this site has measured. The reasoning is that a home is permitted and financed before it is completed, so the recent completion figures reflect conditions from earlier, and a project that never started leaves no mark here at all. We cannot follow a specific project from permit to completion in this data: the source aggregates away project identity, which is also why this panel never shows a conversion rate.
Sources: Federal Reserve: Federal Funds Effective Rate (FRED series DFF); Federal Reserve: Senior Loan Officer Opinion Survey on Bank Lending Practices
Inflation adjustment
The rent chart is drawn in constant dollars so a rise in the line means rent rose faster than other prices, not that prices rose. The figure above each chart is always as published, because that is the one on a lease. Pick the yardstick:
- Nominal dollars No adjustment. The rent as published, in the dollars of its own year, which is the figure on a lease.
- San Francisco CPI, all items less shelter Rent measured against other Bay Area consumer prices, with shelter left out of the yardstick. Covers the metro area, which includes our four counties plus San Mateo. Local indexes carry more sampling noise than the national one.
- San Francisco CPI, all items The headline local inflation number, the one in news coverage. Its basket includes shelter, so rent is measured partly against itself.
- US city average CPI, all items less shelter The national yardstick, monthly and less noisy than the local series. Not Bay Area specific, so it misses local cost-of-living divergence.
View annual figures as a table
| Year | Homes completed | Per 1,000 homes | Jobs change per 1,000 | Rent (2025 $) | Rent (nominal) |
|---|---|---|---|---|---|
| 2021 | 7,257 | 11.59 | 7.0 | $2,992 | $2,529 |
| 2022 | 7,492 | 11.83 | 19.7 | $2,915 | $2,676 |
| 2023 | 5,709 | 8.9 | 2.8 | $2,841 | $2,689 |
| 2024 | 5,210 | 8.04 | -2.3 | $2,748 | $2,679 |
| 2025 | 4,862 | 7.45 | 0.3 | $2,750 | $2,750 |
| Year | Homes completed | Per 1,000 homes | Jobs change per 1,000 | Rent (2025 $) | Rent (nominal) |
|---|---|---|---|---|---|
| 2021 | 2,870 | 6.75 | 15.6 | $2,930 | $2,477 |
| 2022 | 1,982 (partial) | 4.63 | 19.3 | $2,864 | $2,629 |
| 2023 | 2,591 | 6.02 | 2.8 | $2,808 | $2,658 |
| 2024 | 2,019 | 4.66 | -1.1 | $2,803 | $2,733 |
| 2025 | 2,518 (partial) | 5.78 | 0.1 | $2,791 | $2,791 |
Partial years are a floor rather than a total: 2022 is missing Brentwood and 2025 is missing Clayton.
| Year | Homes completed | Per 1,000 homes | Jobs change per 1,000 | Rent (2025 $) | Rent (nominal) |
|---|---|---|---|---|---|
| 2021 | 260 | 2.33 | 6.9 | $3,622 | $3,062 |
| 2022 | 276 | 2.47 | 15.9 | $3,564 | $3,271 |
| 2023 | 364 | 3.24 | 2.4 | $3,504 | $3,317 |
| 2024 | 391 | 3.48 | -2.4 | $3,517 | $3,429 |
| 2025 | 534 | 4.73 | -2.3 | $3,536 | $3,536 |
| Year | Homes completed | Per 1,000 homes | Jobs change per 1,000 | Rent (2025 $) | Rent (nominal) |
|---|---|---|---|---|---|
| 2021 | 5,600 | 13.63 | -4.1 | $3,683 | $3,113 |
| 2022 | 2,910 | 7.01 | 38.9 | $3,643 | $3,344 |
| 2023 | 2,618 | 6.26 | -5.4 | $3,537 | $3,348 |
| 2024 | 1,850 | 4.4 | -14.5 | $3,473 | $3,386 |
| 2025 | 2,844 | 6.74 | -3.6 | $3,670 | $3,670 |
View monthly rent readings as a table
The monthly readings the rent chart draws. The annual table above cannot express them: it cannot show a gap, and it cannot show when a move began.
| Month | Rent (as published) | Rent (2025 $) |
|---|---|---|
| Jan 2021 | $2,450 | $2,992 (est. index) |
| Feb 2021 | $2,459 | $2,994 |
| Mar 2021 | $2,467 | $2,981 (est. index) |
| Apr 2021 | $2,480 | $2,972 |
| May 2021 | $2,498 | $2,972 (est. index) |
| Jun 2021 | $2,526 | $2,985 |
| Jul 2021 | $2,560 | $3,014 (est. index) |
| Aug 2021 | $2,579 | $3,026 |
| Sep 2021 | $2,583 | $3,013 (est. index) |
| Oct 2021 | $2,581 | $2,992 |
| Nov 2021 | $2,579 | $2,970 (est. index) |
| Dec 2021 | $2,586 | $2,960 |
| Jan 2022 | $2,596 | $2,945 (est. index) |
| Feb 2022 | $2,617 | $2,943 |
| Mar 2022 | $2,640 | $2,932 (est. index) |
| Apr 2022 | $2,665 | $2,924 |
| May 2022 | $2,688 | $2,912 (est. index) |
| Jun 2022 | $2,708 | $2,897 |
| Jul 2022 | $2,726 | $2,932 (est. index) |
| Aug 2022 | $2,731 | $2,952 |
| Sep 2022 | $2,719 | $2,919 (est. index) |
| Oct 2022 | $2,693 | $2,872 |
| Nov 2022 | $2,673 | $2,868 (est. index) |
| Dec 2022 | $2,658 | $2,871 |
| Jan 2023 | $2,651 | $2,838 (est. index) |
| Feb 2023 | $2,660 | $2,822 |
| Mar 2023 | $2,693 | $2,859 (est. index) |
| Apr 2023 | $2,716 | $2,885 |
| May 2023 | $2,727 | $2,887 (est. index) |
| Jun 2023 | $2,714 | $2,864 |
| Jul 2023 | $2,714 | $2,857 (est. index) |
| Aug 2023 | $2,710 | $2,844 |
| Sep 2023 | $2,697 | $2,823 (est. index) |
| Oct 2023 | $2,677 | $2,796 |
| Nov 2023 | $2,659 | $2,791 (est. index) |
| Dec 2023 | $2,649 | $2,794 |
| Jan 2024 | $2,647 | $2,767 (est. index) |
| Feb 2024 | $2,651 | $2,746 |
| Mar 2024 | $2,667 | $2,737 (est. index) |
| Apr 2024 | $2,675 | $2,721 |
| May 2024 | $2,686 | $2,733 (est. index) |
| Jun 2024 | $2,692 | $2,741 |
| Jul 2024 | $2,700 | $2,753 (est. index) |
| Aug 2024 | $2,701 | $2,758 |
| Sep 2024 | $2,692 | $2,749 (est. index) |
| Oct 2024 | $2,684 | $2,740 |
| Nov 2024 | $2,677 | $2,748 (est. index) |
| Dec 2024 | $2,678 | $2,764 |
| Jan 2025 | $2,685 | $2,733 (est. index) |
| Feb 2025 | $2,705 | $2,715 |
| Mar 2025 | $2,724 | $2,730 (est. index) |
| Apr 2025 | $2,745 | $2,747 |
| May 2025 | $2,751 | $2,749 (est. index) |
| Jun 2025 | $2,761 | $2,755 |
| Jul 2025 | $2,767 | $2,752 (est. index) |
| Aug 2025 | $2,779 | $2,755 |
| Sep 2025 | $2,780 | — |
| Oct 2025 | $2,779 | — |
| Nov 2025 | $2,765 | — |
| Dec 2025 | $2,763 | $2,743 |
| Jan 2026 | $2,773 | $2,733 (est. index) |
| Feb 2026 | $2,796 | $2,736 |
| Mar 2026 | $2,815 | $2,727 (est. index) |
| Apr 2026 | $2,835 | $2,718 |
| May 2026 | $2,859 | $2,741 (est. index) |
| Jun 2026 | $2,895 | $2,776 |
| Month | Rent (as published) | Rent (2025 $) |
|---|---|---|
| Jan 2021 | $2,393 | $2,923 (est. index) |
| Feb 2021 | $2,399 | $2,921 |
| Mar 2021 | $2,415 | $2,918 (est. index) |
| Apr 2021 | $2,431 | $2,913 |
| May 2021 | $2,455 | $2,921 (est. index) |
| Jun 2021 | $2,472 | $2,921 |
| Jul 2021 | $2,491 | $2,933 (est. index) |
| Aug 2021 | $2,514 | $2,950 |
| Sep 2021 | $2,526 | $2,945 (est. index) |
| Oct 2021 | $2,536 | $2,940 |
| Nov 2021 | $2,540 | $2,925 (est. index) |
| Dec 2021 | $2,549 | $2,917 |
| Jan 2022 | $2,561 | $2,905 (est. index) |
| Feb 2022 | $2,572 | $2,893 |
| Mar 2022 | $2,591 | $2,878 (est. index) |
| Apr 2022 | $2,614 | $2,868 |
| May 2022 | $2,629 | $2,848 (est. index) |
| Jun 2022 | $2,653 | $2,838 |
| Jul 2022 | $2,666 | $2,867 (est. index) |
| Aug 2022 | $2,676 | $2,893 |
| Sep 2022 | $2,666 | $2,862 (est. index) |
| Oct 2022 | $2,651 | $2,826 |
| Nov 2022 | $2,643 | $2,836 (est. index) |
| Dec 2022 | $2,630 | $2,841 |
| Jan 2023 | $2,630 | $2,815 (est. index) |
| Feb 2023 | $2,632 | $2,792 |
| Mar 2023 | $2,649 | $2,813 (est. index) |
| Apr 2023 | $2,656 | $2,822 |
| May 2023 | $2,660 | $2,816 (est. index) |
| Jun 2023 | $2,655 | $2,802 |
| Jul 2023 | $2,665 | $2,805 (est. index) |
| Aug 2023 | $2,672 | $2,804 |
| Sep 2023 | $2,680 | $2,806 (est. index) |
| Oct 2023 | $2,672 | $2,791 |
| Nov 2023 | $2,667 | $2,799 (est. index) |
| Dec 2023 | $2,664 | $2,809 |
| Jan 2024 | $2,678 | $2,799 (est. index) |
| Feb 2024 | $2,690 | $2,786 |
| Mar 2024 | $2,710 | $2,782 (est. index) |
| Apr 2024 | $2,728 | $2,775 |
| May 2024 | $2,745 | $2,793 (est. index) |
| Jun 2024 | $2,754 | $2,804 |
| Jul 2024 | $2,757 | $2,811 (est. index) |
| Aug 2024 | $2,756 | $2,814 |
| Sep 2024 | $2,752 | $2,810 (est. index) |
| Oct 2024 | $2,745 | $2,803 |
| Nov 2024 | $2,747 | $2,819 (est. index) |
| Dec 2024 | $2,738 | $2,826 |
| Jan 2025 | $2,742 | $2,791 (est. index) |
| Feb 2025 | $2,746 | $2,757 |
| Mar 2025 | $2,769 | $2,776 (est. index) |
| Apr 2025 | $2,788 | $2,790 |
| May 2025 | $2,803 | $2,802 (est. index) |
| Jun 2025 | $2,811 | $2,805 |
| Jul 2025 | $2,817 | $2,802 (est. index) |
| Aug 2025 | $2,817 | $2,794 |
| Sep 2025 | $2,815 | — |
| Oct 2025 | $2,806 | — |
| Nov 2025 | $2,792 | — |
| Dec 2025 | $2,784 | $2,764 |
| Jan 2026 | $2,796 | $2,755 (est. index) |
| Feb 2026 | $2,821 | $2,760 |
| Mar 2026 | $2,841 | $2,752 (est. index) |
| Apr 2026 | $2,859 | $2,741 |
| May 2026 | $2,879 | $2,760 (est. index) |
| Jun 2026 | $2,901 | $2,781 |
| Month | Rent (as published) | Rent (2025 $) |
|---|---|---|
| Jan 2021 | $2,940 | $3,591 (est. index) |
| Feb 2021 | $2,966 | $3,612 |
| Mar 2021 | $2,959 | $3,574 (est. index) |
| Apr 2021 | $2,989 | $3,582 |
| May 2021 | $3,016 | $3,589 (est. index) |
| Jun 2021 | $3,049 | $3,602 |
| Jul 2021 | $3,089 | $3,636 (est. index) |
| Aug 2021 | $3,119 | $3,660 |
| Sep 2021 | $3,146 | $3,669 (est. index) |
| Oct 2021 | $3,147 | $3,648 |
| Nov 2021 | $3,160 | $3,639 (est. index) |
| Dec 2021 | $3,167 | $3,624 |
| Jan 2022 | $3,202 | $3,633 (est. index) |
| Feb 2022 | $3,199 | $3,597 |
| Mar 2022 | $3,229 | $3,587 (est. index) |
| Apr 2022 | $3,251 | $3,567 |
| May 2022 | $3,293 | $3,567 (est. index) |
| Jun 2022 | $3,309 | $3,540 |
| Jul 2022 | $3,319 | $3,568 (est. index) |
| Aug 2022 | $3,324 | $3,593 |
| Sep 2022 | $3,315 | $3,560 (est. index) |
| Oct 2022 | $3,288 | $3,506 |
| Nov 2022 | $3,267 | $3,506 (est. index) |
| Dec 2022 | $3,258 | $3,519 |
| Jan 2023 | $3,248 | $3,477 (est. index) |
| Feb 2023 | $3,262 | $3,460 |
| Mar 2023 | $3,285 | $3,487 (est. index) |
| Apr 2023 | $3,309 | $3,516 |
| May 2023 | $3,311 | $3,506 (est. index) |
| Jun 2023 | $3,317 | $3,501 |
| Jul 2023 | $3,328 | $3,503 (est. index) |
| Aug 2023 | $3,351 | $3,517 |
| Sep 2023 | $3,344 | $3,501 (est. index) |
| Oct 2023 | $3,374 | $3,524 |
| Nov 2023 | $3,339 | $3,505 (est. index) |
| Dec 2023 | $3,340 | $3,523 |
| Jan 2024 | $3,327 | $3,477 (est. index) |
| Feb 2024 | $3,361 | $3,481 |
| Mar 2024 | $3,393 | $3,482 (est. index) |
| Apr 2024 | $3,423 | $3,482 |
| May 2024 | $3,451 | $3,512 (est. index) |
| Jun 2024 | $3,459 | $3,522 |
| Jul 2024 | $3,472 | $3,540 (est. index) |
| Aug 2024 | $3,477 | $3,550 |
| Sep 2024 | $3,471 | $3,544 (est. index) |
| Oct 2024 | $3,450 | $3,522 |
| Nov 2024 | $3,438 | $3,529 (est. index) |
| Dec 2024 | $3,429 | $3,539 |
| Jan 2025 | $3,452 | $3,513 (est. index) |
| Feb 2025 | $3,467 | $3,480 |
| Mar 2025 | $3,521 | $3,529 (est. index) |
| Apr 2025 | $3,549 | $3,552 |
| May 2025 | $3,593 | $3,591 (est. index) |
| Jun 2025 | $3,595 | $3,587 |
| Jul 2025 | $3,589 | $3,570 (est. index) |
| Aug 2025 | $3,549 | $3,519 |
| Sep 2025 | $3,531 | — |
| Oct 2025 | $3,518 | — |
| Nov 2025 | $3,529 | — |
| Dec 2025 | $3,542 | $3,516 |
| Jan 2026 | $3,576 | $3,524 (est. index) |
| Feb 2026 | $3,604 | $3,526 |
| Mar 2026 | $3,640 | $3,525 (est. index) |
| Apr 2026 | $3,650 | $3,500 |
| May 2026 | $3,696 | $3,544 (est. index) |
| Jun 2026 | $3,750 | $3,596 |
| Month | Rent (as published) | Rent (2025 $) |
|---|---|---|
| Jan 2021 | $2,912 | $3,557 (est. index) |
| Feb 2021 | $2,924 | $3,561 |
| Mar 2021 | $2,951 | $3,565 (est. index) |
| Apr 2021 | $2,993 | $3,587 |
| May 2021 | $3,043 | $3,621 (est. index) |
| Jun 2021 | $3,118 | $3,684 |
| Jul 2021 | $3,191 | $3,756 (est. index) |
| Aug 2021 | $3,249 | $3,812 |
| Sep 2021 | $3,266 | $3,809 (est. index) |
| Oct 2021 | $3,255 | $3,773 |
| Nov 2021 | $3,236 | $3,727 (est. index) |
| Dec 2021 | $3,223 | $3,689 |
| Jan 2022 | $3,236 | $3,671 (est. index) |
| Feb 2022 | $3,265 | $3,672 |
| Mar 2022 | $3,292 | $3,656 (est. index) |
| Apr 2022 | $3,312 | $3,633 |
| May 2022 | $3,332 | $3,610 (est. index) |
| Jun 2022 | $3,356 | $3,590 |
| Jul 2022 | $3,380 | $3,634 (est. index) |
| Aug 2022 | $3,400 | $3,675 |
| Sep 2022 | $3,407 | $3,658 (est. index) |
| Oct 2022 | $3,405 | $3,631 |
| Nov 2022 | $3,382 | $3,629 (est. index) |
| Dec 2022 | $3,355 | $3,624 |
| Jan 2023 | $3,337 | $3,572 (est. index) |
| Feb 2023 | $3,339 | $3,542 |
| Mar 2023 | $3,358 | $3,565 (est. index) |
| Apr 2023 | $3,352 | $3,561 |
| May 2023 | $3,358 | $3,556 (est. index) |
| Jun 2023 | $3,359 | $3,545 |
| Jul 2023 | $3,375 | $3,552 (est. index) |
| Aug 2023 | $3,378 | $3,545 |
| Sep 2023 | $3,371 | $3,529 (est. index) |
| Oct 2023 | $3,348 | $3,497 |
| Nov 2023 | $3,315 | $3,479 (est. index) |
| Dec 2023 | $3,284 | $3,464 |
| Jan 2024 | $3,288 | $3,436 (est. index) |
| Feb 2024 | $3,306 | $3,424 |
| Mar 2024 | $3,340 | $3,428 (est. index) |
| Apr 2024 | $3,360 | $3,417 |
| May 2024 | $3,378 | $3,437 (est. index) |
| Jun 2024 | $3,391 | $3,452 |
| Jul 2024 | $3,411 | $3,478 (est. index) |
| Aug 2024 | $3,423 | $3,496 |
| Sep 2024 | $3,434 | $3,506 (est. index) |
| Oct 2024 | $3,430 | $3,502 |
| Nov 2024 | $3,434 | $3,525 (est. index) |
| Dec 2024 | $3,434 | $3,544 |
| Jan 2025 | $3,449 | $3,510 (est. index) |
| Feb 2025 | $3,477 | $3,490 |
| Mar 2025 | $3,518 | $3,526 (est. index) |
| Apr 2025 | $3,562 | $3,565 |
| May 2025 | $3,602 | $3,600 (est. index) |
| Jun 2025 | $3,655 | $3,647 |
| Jul 2025 | $3,702 | $3,683 (est. index) |
| Aug 2025 | $3,760 | $3,729 |
| Sep 2025 | $3,803 | — |
| Oct 2025 | $3,832 | — |
| Nov 2025 | $3,832 | — |
| Dec 2025 | $3,843 | $3,814 |
| Jan 2026 | $3,887 | $3,831 (est. index) |
| Feb 2026 | $3,963 | $3,878 |
| Mar 2026 | $4,048 | $3,921 (est. index) |
| Apr 2026 | $4,148 | $3,977 |
| May 2026 | $4,257 | $4,082 (est. index) |
| Jun 2026 | $4,401 | $4,220 |
An annual rent figure is the mean of that year's published monthly readings, deflated once as an annual figure, so it will not exactly match the mean of the monthly points on the chart. A year with fewer than twelve readings is marked with its month count, and a year with fewer than 9 gets no annual rent at all, though its monthly readings still draw. A bar is a whole calendar year, not a rate: the latest year with no bar has no Annual Progress Report filed yet.
The price index is published every other month for San Francisco, so a month between two readings is estimated and marked in the monthly table. A longer gap is left empty rather than filled: the rent for those months is still shown as published.
Homes completed: California Department of Housing and Community Development, as of August 2026. Housing stock: California Department of Finance, as of September 2026. Employment: U.S. Bureau of Labor Statistics, as of September 2026. Inflation adjustment: San Francisco CPI, all items less shelter, from the BLS Consumer Price Index (CPI-U), as of September 2026. Rents: Data provided by Zillow, as of June 2026.
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