San Francisco Multifamily Market Report – February 2025

Market Overview

According to Yardi Matrix, the Bay Area continues to stabilize after years of pandemic-related disruption. As of November 2024, rents rose 2.4% year-over-year, reaching an average of $2,742. Occupancy remained soft but is showing signs of stabilization, especially in core submarkets with limited new supply. Submarkets like San Mateo, Berkeley, and the East Bay are experiencing faster recovery due to improved affordability and commuting access.

About Yardi Matrix

Yardi Matrix delivers property-level data and trend analysis across 160+ metros. Their multifamily market reports provide insights into rent growth, occupancy rates, new construction, and investment activity. Focused on institutional-grade intelligence, Yardi’s reports are used by asset managers, lenders, and REITs for accurate benchmarking. Their Bay Area coverage breaks down performance by submarket and asset class, highlighting both macro trends and granular property dynamics.