October 26, 2020
Tagged in: City Highlights

Rentometer “QuickView” City Analysis: San Francisco, CA

The current pandemic is having an impact on rent prices in major cities around the U.S. To quantify the impact, we’re focusing attention on some of the major cities and neighborhoods in the U.S.  We will be presenting our findings in a series of “QuickView” reports.

The subject of this week’s QuickView is a snapshot of average rent rents in San Francisco, CA. Based on our analysis, the San Francisco rental market is currently experiencing steep declines in rental prices.

Our standard City analysis uses a 6-month LookBack” to establish an average baseline rent. The 6-month LookBack analyzes the rent data from the last 6-months, and for this analysis, the rent data included would be from April 17 – October 17. 

The results from the 6-month LookBack analysis are presented in the table below:

City: San Francisco (average rent)

6-month LookBack

Floorplan

10/17/20

10/17/19

ch$

ch%

Studio

$2,302

$2,662

-$360

-13.5%

1BR

$2,926

$3,181

-$255

-8.0%

2BR

$3,992

$4,477

-$485

-10.8%

3BR

$4,901

$5,503

-$602

-10.9%

 

There’s no way around it, San Francisco rents have dropped sharply year over year. We isolated “October Only” data to gauge the most current levels to see how the first half of October 2020 compared with rent data from the same period last year. 

The result of the October Only analysis are presented in the table below:

City: San Francisco (average rent)

October Only

Floorplan

2020

2019

ch$

ch%

Studio

$2,118

$3,039

-$921

-30.3%

1BR

$2,744

$3,416

-$672

-19.7%

2BR

$3,874

$4,607

-$733

-15.9%

3BR

$4,777

$6,330

-$1,552

-24.5%

The October Only data analysis indicates that rent prices in San Francisco are down sharply from the same period last year; and, rent prices are continuing the downward trend compared to the 6-month baseline analysis. 

For example, the baseline rent for a 2BR floor plan is down 10.8% from last year, but the October 2020 rent prices are down even more - 15.9% compared to October 2019.

In our next QuickView segment, we will analyze some of the larger neighborhoods in San Francisco.

You can try Rentometer Pro for a 7-day Free Trial (no cc req’d) by visiting: www.rentometer.com/pricing.

San Francisco Studio Rents: October 2020

Back to Top

 

San Francisco 1-Bedroom Rents: October 2020

 

Back to Top

 

San Francisco 2-Bedroom Rents: October 2020

Back to Top

 

San Francisco 3-Bedroom Rents: October 2020

Back to Top

 

Try QuickView Now!

If you liked this article, subscribe to Rentometer's email newsletter to stay up-to-date on the latest trends in rental housing.