San Francisco Multifamily Market Report – July 2025

Market Overview

‍The multifamily market in the San Francisco metro shows early signs of recovery as rent edges up while supply loosens. In July 2025, average advertised rent reached approximately $2,880 per unit, up 0.5% year-over-year, and occupancy held at around 95.4%. Although 12,255 units were under construction as of May, new completions remained modest, helping preserve market balance and underwrite further upside once absorption gains momentum.

‍About Yardi Matrix

‍Yardi Matrix is a national analytics and research firm that specialises in multifamily housing markets. Their San Francisco market report compiles detailed data on rent trends, occupancy rates, new-supply activity and investment flows to support owners, developers and investors in strategic timing and positioning. To read the full report, click here.