San Francisco, CA
Housing, demographics, economy, and public safety data for San Francisco, California.
Updated Sep 1.
Housing
Zillow Home Value Index for middle-tier homes.
$1.4M
Trend YoY growth is +1.1%, slowing by 29 bps/year over the last 26Y. Deviations have remained above trend for 9 consecutive periods. Latest: +13.7%, 12.6 pp above trend, a 2.0σ deviation. The latest YoY reading is boosted by 2.5 pp due to an easy comparison base from Sep '25. At current levels, YoY would fall to +11.3% by Dec '26 as comparisons tighten.
Level
YoY %
y = 8.5% − 29 bps/yr · t
Deviation from trend
Zillow Observed Rent Index for all home types.
4.7kUSD/mo
Trend YoY growth is +7.1%, accelerating by 87 bps/year over the last 11Y. Deviations have remained above trend for 17 consecutive periods. Latest: +25.1%, 18.0 pp above trend, a 2.4σ deviation. The latest YoY reading is depressed by 3.9 pp due to an tough comparison base from Sep '25. At current levels, YoY would fall to +22.9% by Dec '26 as comparisons tighten.
Level
YoY %
y = −2.2% + 87 bps/yr · t
Deviation from trend
Demographics
No data
No data
No data
No data
No data
Economy
Share of the labor force unemployed and seeking work.
San Francisco County (FRED LAUS)
4.0%
Trend YoY growth is -0.2%, slowing by 1.6 pp/year over the last 21Y. Latest: -0.5%, 29 bps below trend, a 0.15σ deviation. The latest YoY reading is depressed by 60 bps due to an tough comparison base from Sep '25. At current levels, YoY would rise to +0.2% by Dec '26 as comparisons ease.
Level
YoY Change (bps)
y = 0.1% − 2 bps/yr · t
Deviation from trend
No data
Public Safety
No data
No data
Key Insight
San Francisco's rental market is staging a dramatic and historically anomalous recovery, with rents surging at +12.8% YoY — a 1.5σ deviation above trend and 9.2 pp above the long-run +3.6% growth rate — even as home prices remain essentially flat and the city continues to lose population.
San Francisco, CA
Housing, demographics, economy, and public safety data for San Francisco, California.
Updated Sep 1.
Housing
Zillow Home Value Index for middle-tier homes.
$1.4M
Trend YoY growth is +1.1%, slowing by 29 bps/year over the last 26Y. Deviations have remained above trend for 9 consecutive periods. Latest: +13.7%, 12.6 pp above trend, a 2.0σ deviation. The latest YoY reading is boosted by 2.5 pp due to an easy comparison base from Sep '25. At current levels, YoY would fall to +11.3% by Dec '26 as comparisons tighten.
Level
YoY %
y = 8.5% − 29 bps/yr · t
Deviation from trend
Zillow Observed Rent Index for all home types.
4.7kUSD/mo
Trend YoY growth is +7.1%, accelerating by 87 bps/year over the last 11Y. Deviations have remained above trend for 17 consecutive periods. Latest: +25.1%, 18.0 pp above trend, a 2.4σ deviation. The latest YoY reading is depressed by 3.9 pp due to an tough comparison base from Sep '25. At current levels, YoY would fall to +22.9% by Dec '26 as comparisons tighten.
Level
YoY %
y = −2.2% + 87 bps/yr · t
Deviation from trend
Demographics
No data
No data
No data
No data
No data
Economy
Share of the labor force unemployed and seeking work.
San Francisco County (FRED LAUS)
4.0%
Trend YoY growth is -0.2%, slowing by 1.6 pp/year over the last 21Y. Latest: -0.5%, 29 bps below trend, a 0.15σ deviation. The latest YoY reading is depressed by 60 bps due to an tough comparison base from Sep '25. At current levels, YoY would rise to +0.2% by Dec '26 as comparisons ease.
Level
YoY Change (bps)
y = 0.1% − 2 bps/yr · t
Deviation from trend
No data
Public Safety
No data
No data