Despite some recent misreporting in the media, apartment rents in San Francisco have not recovered, at least not yet.
In fact, the weighted average asking rent for an apartment in the city is still around $ 3,100 per month, down 22 percent year over year and 30 percent below the 2015 high, with the average asking rent being for a studio , which is nearly 35 percent below the peak, still below $ 1,900 per month, and the median asking rent for a bedroom is $ 2,600 per month and is currently over 28 percent below the peak.
While the average vacancy rate for larger institutional buildings has declined due to aggressive discounts and incentives to sign a new lease, the total number of units available for rent in San Francisco, including units in larger buildings and one-off rentals, is still double year-over-year and has increased absolutely in the past two weeks.
Our latest analysis is based on a subset of over 100,000 entries from 2004, which we maintain, normalize and index on a monthly basis. We’ll keep you posted and pocket you.