Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in San Francisco County/city, CA (MEDLISPRIPERSQUFEE6075) from Jul 2016 to Oct 2025 about San Francisco County/City, CA; square feet; listing; median; price; and USA.

In 2022, San Mateo, San Francisco, and Santa Clara were the most expensive districts for housing in the San Francisco Bay Area. In San Francisco, the average square footage price of single-family homes exceeded 1,000 U.S. dollars per square foot. Housing in Solano, on the other hand, was most affordable, with the average square footage price for single family homes at *** U.S. dollars.

How expensive is buying a home in San Francisco? Few metros in the U.S. are more expensive than San Francisco, CA. In 2022, the median sales price of existing single-family homes in San Francisco was about *** million U.S. dollars, making it the second priciest market in the U.S. House prices in the Golden City, were not always so high: in 2014, a two-bedroom house in the Bay Area would sell for less than ******* U.S. dollars but since then, the median price has more than doubled.

How much does renting an apartment cost? Despite rents falling in 2020, renting in San Francisco is still far from cheap. Renting a two-bedroom apartment cost close to ***** U.S. dollars in 2021. California is one of the least affordable states for renters. In fact, to afford to rent such an apartment, a household needs approximately ***** full time jobs at minimum wage or *** full time jobs at mean wage.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in San Francisco-Oakland-Hayward, CA (CBSA) (MEDLISPRIPERSQUFEEYY41860) from Jul 2017 to Oct 2025 about San Francisco, square feet, CA, listing, median, price, and USA.

Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in San Francisco County/city, CA was -1.58% in October of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in San Francisco County/city, CA reached a record high of 11.13 in December of 2019 and a record low of -9.36 in February of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in San Francisco County/city, CA - last updated from the United States Federal Reserve on November of 2025.

San Francisco - Median Listing Price per Square Foot - Historical chart and current data through 2025.

San Francisco's office rental market showcases significant variation across its submarkets, with Mission Bay commanding the highest rates at *** U.S. dollars per square foot in the third quarter of 2024. This premium location demanded nearly double the city's average rate, highlighting the stark differences in desirability and demand within the city's commercial real estate landscape. Economic powerhouse The San Francisco Bay Area's economic prowess is evident in its impressive economic growth over the past 20 years. The city's strength is fueled by the presence of major technology companies and a thriving startup ecosystem. The region's economic significance extends beyond local boundaries, contributing substantially to California's position as the state with the highest GDP in the country. This economic vitality helps explain the sustained demand for office space across various San Francisco submarkets. Offices: global context and market trends In a global context, San Francisco's office rental rates are relatively high but not the most expensive worldwide. In 2024, London, Hong Kong, and New York emerged as the top three most expensive office rental markets globally. Over the past five years, San Francisco has experienced a decline in office rents. This trend aligns with broader shifts in the office real estate sector, influenced by the COVID-19 pandemic and the rise of hybrid work. Despite these challenges, certain San Francisco submarkets like Mission Bay and The Presidio continue to command premium rates, reflecting their enduring appeal to commercial tenants.

The average annual rent for manufacturing space in the San Francisco Bay Area soared between 2020 and 2024. In the first quarter of 2024, the rental cost amounted to ***** U.S. dollars per square foot. That was higher than the average rent for manufacturing space in the United States.

Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in San Francisco County/city, CA was -0.29% in October of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in San Francisco County/city, CA reached a record high of 6.79 in December of 2019 and a record low of -3.25 in January of 2018. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in San Francisco County/city, CA - last updated from the United States Federal Reserve on November of 2025.

In October 2024, the median square footage sales price of a single-family home in the San Francisco Bay Area was approximately *** U.S. dollars. Condos, on the other hand, sold for *** U.S. dollars per square foot. The Far North was the most affordable region with sales price of *** and *** U.S. dollars for single family homes and condos, respectively.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting ****** U.S. dollars per square foot in 2024. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Marin County, CA (MEDLISPRIPERSQUFEE6041) from Jul 2016 to Oct 2025 about Marin County, CA; San Francisco; square feet; CA; listing; median; price; and USA.

Housing Inventory: Median Listing Price per Square Feet in San Francisco County/city, CA was 950.00000 U.S. $ in September of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet in San Francisco County/city, CA reached a record high of 1159.00000 in February of 2020 and a record low of 917.00000 in August of 2025. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet in San Francisco County/city, CA - last updated from the United States Federal Reserve on November of 2025.

In the first quarter of 2025, San Francisco, Chicago, New York, and Honolulu were some of the U.S. cities with the highest housing construction costs. Meanwhile, Phoenix had one of the lowest construction costs for high-end multifamily homes at *** U.S. dollars per square foot and Las Vegas for single-family homes between *** and *** U.S. dollars per square foot. Construction cost disparities As seen here, the construction cost for a high-end multi-family home in San Francisco in the first quarter of 2024 was over ***** more expensive than in Phoenix. Meanwhile, there were also great differences in the cost of building a single-family house in New York and in Portland or Seattle. Some factors that may cause these disparities are the construction materials, installation, and composite costs, differing land values, wages, etc. For example, although the price of construction materials in the U.S. was rising at a slower level than in 2022 and 2023, several materials that are essential in most construction projects had growth rates of over **** percent in 2024. Growing industry revenue Despite the economic uncertainty and other challenges, the size of the private construction market in the U.S. rose during the past years. It is important to consider that supply and demand for housing influences the revenue of this segment of the construction market. On the supply side, single-family home construction fell in 2023, but it is expected to rise in 2024 and 2025. On the demand side, some of the U.S. metropolitan areas with the highest sale prices of single-family homes were located in California, with San Jose-Sunnyvale-Santa Clara at the top of the ranking.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in San Mateo County, CA (MEDLISPRIPERSQUFEE6081) from Jul 2016 to Oct 2025 about San Mateo County, CA; San Francisco; square feet; CA; listing; median; price; and USA.

The average rent per square foot in the largest research and development (R&D) and life science real estate markets in the United States varied greatly in the first half of 2023. New York City, Chicago, and San Francisco Bay Area were the most expensive markets to rent life science real estate in the first half of 2023. On average, a square foot of life science real estate cost about ***** U.S. dollars to buy in the same period.

Housing Inventory: Median Home Size in Square Feet Month-Over-Month in San Francisco County/city, CA was 0.93% in October of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Home Size in Square Feet Month-Over-Month in San Francisco County/city, CA reached a record high of 5.15 in February of 2025 and a record low of -6.86 in January of 2019. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Home Size in Square Feet Month-Over-Month in San Francisco County/city, CA - last updated from the United States Federal Reserve on December of 2025.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Contra Costa County, CA (MEDLISPRIPERSQUFEE6013) from Jul 2016 to Oct 2025 about Contra Costa County, CA; San Francisco; square feet; CA; listing; median; price; and USA.

A recent New York Times article examines one of the biggest drivers in a families' decision to leave cities: school. Using data from a number of sources, the New York Times developed charts that look at school performance and median home sale price per square foot for five metro areas including New York/New Jersey, San Francisco, Boston, Chicago, and Minneapolis.For most of the cities studied, home prices rise with the quality of the school district but a number of districts break this pattern. The map shown highlights five Bay Area schools that perform above average, and have below average housing costs.The New York Times used median price per square foot to measure housing costs and the median number of grades ahead (or behind) for school district quality. In the San Francisco Bay Region, the price per square foot was around $500 while students were .28 grades ahead of their grade placement. The five Bay Area schools that were selected had the lowest home prices and the best performing schools in the region.Source: New York Times

The United States home construction market, valued at approximately $700 billion in 2025, is experiencing robust growth, projected to maintain a compound annual growth rate (CAGR) exceeding 3% through 2033. This expansion is fueled by several key factors. Firstly, a persistent housing shortage, particularly in desirable urban areas like New York City, Los Angeles, and San Francisco, continues to drive demand. Secondly, favorable demographic trends, including millennial household formation and an increasing preference for homeownership, are bolstering the sector. Furthermore, low interest rates (though this is subject to change depending on economic conditions) have historically made mortgages more accessible, stimulating construction activity. However, the market isn't without its challenges. Rising material costs, labor shortages, and supply chain disruptions continue to exert upward pressure on construction prices, potentially impacting affordability and slowing growth in certain segments. The market is segmented by dwelling type (apartments & condominiums, villas, other), construction type (new construction, renovation), and geographic location, with significant activity concentrated in major metropolitan areas. The dominance of large national builders like D.R. Horton, Lennar Corp, and PulteGroup highlights the industry's consolidation trend, while the growth of multi-family construction reflects shifting urban preferences. Looking ahead, the market's trajectory will depend on macroeconomic factors, interest rate fluctuations, government policies impacting housing affordability, and the ability of the industry to address supply-chain and labor challenges. Innovation in construction technologies, sustainable building practices, and prefabricated homes are also emerging trends expected to significantly influence market dynamics over the forecast period. The competitive landscape is characterized by a mix of large publicly traded companies and smaller regional builders. While established players dominate the market share, opportunities exist for smaller firms specializing in niche markets, such as sustainable or luxury home construction, or those focused on specific geographic areas. The ongoing expansion of the market signifies significant potential for investment and growth, despite the hurdles currently impacting the sector. Addressing supply chain disruptions and labor shortages will be crucial for sustained growth. Continued demand in key urban centers and evolving consumer preferences toward specific dwelling types will be critical factors determining the market's future trajectory. Recent developments include: June 2022 - Pulte Homes - a national brand of PulteGroup, Inc. - announced the opening of its newest Boston-area community, Woodland Hill. Offering 46 new construction single-family homes in the charming town of Grafton, the community is conveniently located near schools, dining, and entertainment, with the Massachusetts Bay Transportation Authority commuter rail less than a mile away. The collection of home designs at Woodland Hill includes three two-story floor plans, ranging in size from 3,013 to 4,019 sq. ft. with four to six bedrooms, 2.5-3.5 baths, and 2-3 car garages. These spacious home designs feature flexible living spaces, plenty of natural light, gas fireplaces, and the signature Pulte Planning Center®, a unique multi-use workstation perfect for homework or a family office., December 2022 - D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes, one of the largest builders in Northwest Arkansas. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory, and 173 homes in the sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes (USD 48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of USD 313,600. D.R. Horton expects to pay approximately USD 107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.. Notable trends are: High-interest Rates are Negatively Impacting the Market.

Disclaimer: These data are updated by the author and are not an official product of the Federal Reserve Bank of Cleveland.This project provides two sets of migration estimates for the major US metro areas. The first series measures net migration of people to and from the urban neighborhoods of the metro areas. The second series covers all neighborhoods but breaks down net migration to other regions by four region types: (1) high-cost metros, (2) affordable, large metros, (3) midsized metros, and (4) small metros and rural areas. These series were introduced in a Cleveland Fed District Data Brief entitled “Urban and Regional Migration Estimates: Will Your City Recover from the Pandemic?"The migration estimates in this project are created with data from the Federal Reserve Bank of New York/Equifax Consumer Credit Panel (CCP). The CCP is a 5 percent random sample of the credit histories maintained by Equifax. The CCP reports the census block of residence for over 10 million individuals each quarter. Each month, Equifax receives individuals’ addresses, along with reports of debt balances and payments, from creditors (mortgage lenders, credit card issuers, student loan servicers, etc.). An algorithm maintained by Equifax considers all of the addresses reported for an individual and identifies the individual’s most likely current address. Equifax anonymizes the data before they are added to the CCP, removing names, addresses, and Social Security numbers (SSNs). In lieu of mailing addresses, the census block of the address is added to the CCP. Equifax creates a unique, anonymous identifier to enable researchers to build individuals’ panels. The panel nature of the data allows us to observe when someone has migrated and is living in a census block different from the one they lived in at the end of the preceding quarter. For more details about the CCP and its use in measuring migration, see Lee and Van der Klaauw (2010) and DeWaard, Johnson and Whitaker (2019). DefinitionsMetropolitan areaThe metropolitan areas in these data are combined statistical areas. This is the most aggregate definition of metro areas, and it combines Washington DC with Baltimore, San Jose with San Francisco, Akron with Cleveland, etc. Metro areas are combinations of counties that are tightly linked by worker commutes and other economic activity. All counties outside of metropolitan areas are tracked as parts of a rural commuting zone (CZ). CZs are also groups of counties linked by commuting, but CZ definitions cover all counties, both metropolitan and non-metropolitan. High-cost metropolitan areasHigh-cost metro areas are those where the median list price for a house was more than $200 per square foot on average between April 2017 and April 2022. These areas include San Francisco-San Jose, New York, San Diego, Los Angeles, Seattle, Boston, Miami, Sacramento, Denver, Salt Lake City, Portland, and Washington-Baltimore. Other Types of RegionsMetro areas with populations above 2 million and house price averages below $200 per square foot are categorized as affordable, large metros. Metro areas with populations between 500,000 and 2 million are categorized as mid-sized metros, regardless of house prices. All remaining counties are in the small metro and rural category.To obtain a metro area's total net migration, sum the four net migration values for the the four types of regions.Urban neighborhoodCensus tracts are designated as urban if they have a population density above 7,000 people per square mile. High density neighborhoods can support walkable retail districts and high-frequency public transportation. They are more likely to have the “street life” that people associate with living in an urban rather than a suburban area. The threshold of 7,000 people per square mile was selected because it was the average density in the largest US cities in the 1930 census. Before World War II, workplaces, shopping, schools and parks had to be accessible on foot. Tracts are also designated as urban if more than half of their housing units were built before WWII and they have a population density above 2,000 people per square mile. The lower population density threshold for the pre-war neighborhoods recognizes that many urban tracts have lost population since the 1960s. While the street grids usually remain, the area also needs su