The median price for two-bedroom houses in San Francisco decreased in 2023, while in the Bay Area it slightly rose. In 2023, the median price for a two-bedroom house in the Bay Area was 1.2 million U.S. dollars, whereas in San Francisco, it was 1.5 million U.S. dollars.

In 2022, San Mateo, Marin, and San Francisco were the most expensive districts in terms of housing. In San Mateo, Marin, San Francisco, and Santa Clara, the average sales price of a single family home exceeded two million U.S. dollars. Solano, on the other hand, was the most affordable district and home buyers spent on average 640,000 U.S. dollars for a single family home.

In 2022, San Marino, San Francisco and Marin were the most expensive districts for housing in the San Francisco Bay Area. The median sales price of a single family home was over 1.75 million U.S. dollars. In San Francisco, the median price of a condo was 1.2 million U.S. dollars, while in San Mateo and Santa Clara, it was close to a million U.S. dollars. Solano was the most affordable district for both single-family homes and condos.

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 Dec 2024 about San Francisco County/City, CA; square feet; listing; median; price; and USA.

VITAL SIGNS INDICATOR
Home Prices (EC7)

FULL MEASURE NAME
Home Prices

LAST UPDATED
December 2022

DESCRIPTION
Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city.

DATA SOURCE
Zillow: Zillow Home Value Index (ZHVI) - http://www.zillow.com/research/data/
2000-2021

California Department of Finance: E-4 Historical Population Estimates for Cities, Counties, and the State - https://dof.ca.gov/forecasting/demographics/estimates/
2000-2021

US Census Population and Housing Unit Estimates - https://www.census.gov/programs-surveys/popest.html
2000-2021

Bureau of Labor Statistics: Consumer Price Index - http://data.bls.gov
2000-2021

US Census ZIP Code Tabulation Areas (ZCTAs) - https://www.census.gov/programs-surveys/geography/guidance/geo-areas/zctas.html
2020 Census Blocks

CONTACT INFORMATION
vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Housing price estimates at the regional-, county-, city- and zip code-level come from analysis of individual home sales by Zillow based upon transaction records. Zillow Home Value Index (ZHVI) is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. ZHVI is computed from public record transaction data as reported by counties. All standard real estate transactions are included in this metric, including REO sales and auctions. Zillow makes a substantial effort to remove transactions not typically considered a standard sale. Examples of these include bank takeovers of foreclosed properties, title transfers after a death or divorce and non arms-length transactions. Zillow defines all homes as single-family residential, condominium and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that can be owned in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums in that the homeowners own shares in the corporation that owns the building, not the actual units themselves.

For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Data is adjusted for inflation using Bureau of Labor Statistics metropolitan statistical area (MSA)-specific series. Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of the CPI itself.

The S&P Case Shiller San Francisco Home Price Index measures changes in the prices of existing single-family homes in San Francisco. The index value was equal to 100 as of January 2000, so if the index value is equal to 130 in a given month, for example, it means that the house prices have increased by 30 percent since 2000. The value of the S&P Case Shiller San Francisco Home Price Index amounted to nearly 357.57 in August 2024. That was significantly higher than the national average.

Graph and download economic data for Housing Inventory: Median Listing Price in Palm Bay-Melbourne-Titusville, FL (CBSA) (MEDLISPRI37340) from Jul 2016 to Feb 2025 about Palm Bay, FL, listing, median, price, and USA.

Graph and download economic data for Housing Inventory: Median Days on Market Year-Over-Year in Bay City, MI (CBSA) (MEDDAYONMARYY13020) from Jul 2017 to Feb 2025 about Bay City, MI, median, and USA.

VITAL SIGNS INDICATOR
Rent Payments (EC8)

FULL MEASURE NAME
Median rent payment

LAST UPDATED
January 2023

DESCRIPTION
Rent payments refer to the cost of leasing an apartment or home and serves as a measure of housing costs for individuals who do not own a home. The data reflect the median monthly rent paid by Bay Area households across apartments and homes of various sizes and various levels of quality. This differs from advertised rents for available apartments, which usually are higher. Note that rent can be presented using nominal or real (inflation-adjusted) dollar values; data are presented inflation-adjusted to reflect changes in household purchasing power over time.

DATA SOURCE
U.S. Census Bureau: Decennial Census - https://nhgis.org
Count 2 (1970)
Form STF1 (1980-1990)
Form SF3a (2000)

U.S. Census Bureau: American Community Survey - https://data.census.gov/
Form B25058 (2005-2021; median contract rent)

Bureau of Labor Statistics: Consumer Price Index - https://www.bls.gov/data/
1970-2021

CONTACT INFORMATION
vitalsigns.info@mtc.ca.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Rent data reflects median rent payments rather than list rents (refer to measure definition above). American Community Survey 1-year data is used for larger geographies – Bay counties and most metropolitan area counties – while smaller geographies rely upon 5-year rolling average data due to their smaller sample sizes. Note that 2020 data uses the 5-year estimates because the ACS did not collect 1-year data for 2020.

1970 Census data for median rent payments has been imputed from quintiles using methodology from California Department of Finance as the source data only provided the mean, rather than the median, monthly rent. Metro area boundaries reflects today’s metro area definitions by county for consistency, rather than historical metro area boundaries.

Inflation-adjusted data are presented to illustrate how rent payments have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of CPI itself.

In October 2024, the median square footage sales price of a single-family home in the San Francisco Bay Area was approximately 752 U.S. dollars. Condos, on the other hand, sold for 686 U.S. dollars per square foot. The Far North was the most affordable region with sales price of 250 and 203 U.S. dollars for single family homes and condos, respectively.

Graph and download economic data for Housing Inventory: Median Listing Price in Coos Bay, OR (CBSA) (MEDLISPRI18300) from Jul 2016 to Feb 2025 about Coos Bay, OR, listing, median, price, and USA.

United States Median Home Sale Price: All Residential: Palm Bay, FL data was reported at 255.000 USD th in Jul 2020. This records an increase from the previous number of 253.000 USD th for Jun 2020. United States Median Home Sale Price: All Residential: Palm Bay, FL data is updated monthly, averaging 205.000 USD th from Nov 2014 (Median) to Jul 2020, with 69 observations. The data reached an all-time high of 255.000 USD th in Jul 2020 and a record low of 134.000 USD th in Nov 2014. United States Median Home Sale Price: All Residential: Palm Bay, FL data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB056: Median Home Sale Price: by Metropolitan Areas.

Graph and download economic data for Housing Inventory: Median Listing Price Month-Over-Month in Green Bay, WI (CBSA) (MEDLISPRIMM24580) from Jul 2017 to Feb 2025 about Green Bay, WI, listing, median, price, and USA.

The San Francisco Bay Area was the only area where single-family homes sold above the list price in October 2024. In that month, buyers paid on average one percent above the list price for single-family houses. Condos, on the other hand, sold for 100 percent of the list price. As a result of the robust demand for California properties, property prices increased in the past year.

United States Median Home Sale Price: Single Family: Coos Bay, OR data was reported at 273.000 USD th in Jul 2020. This records an increase from the previous number of 253.000 USD th for Jun 2020. United States Median Home Sale Price: Single Family: Coos Bay, OR data is updated monthly, averaging 184.500 USD th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 275.000 USD th in Nov 2019 and a record low of 100.000 USD th in May 2012. United States Median Home Sale Price: Single Family: Coos Bay, OR data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB056: Median Home Sale Price: by Metropolitan Areas.

Graph and download economic data for Housing Inventory: Median Days on Market Month-Over-Month in Palm Bay-Melbourne-Titusville, FL (CBSA) (MEDDAYONMARMM37340) from Jul 2017 to Feb 2025 about Palm Bay, FL, median, and USA.

United States Median Home Sale Price: Multi-Family: Coos Bay, OR data was reported at 217.000 USD th in Jul 2020. This records an increase from the previous number of 216.000 USD th for Jun 2020. United States Median Home Sale Price: Multi-Family: Coos Bay, OR data is updated monthly, averaging 178.000 USD th from May 2012 (Median) to Jul 2020, with 89 observations. The data reached an all-time high of 362.000 USD th in Aug 2017 and a record low of 28.000 USD th in Apr 2015. United States Median Home Sale Price: Multi-Family: Coos Bay, OR data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB056: Median Home Sale Price: by Metropolitan Areas.

Graph and download economic data for Housing Inventory: Average Listing Price Month-Over-Month in Bay City, TX (CBSA) (AVELISPRIMM13060) from Jul 2017 to Feb 2025 about Bay City, average, listing, TX, price, and USA.

Graph and download economic data for S&P CoreLogic Case-Shiller FL-Tampa Home Price Index (TPXRSA) from Jan 1987 to Jan 2025 about Tampa, FL, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for Housing Inventory: Median Listing Price Year-Over-Year in Bay City, TX (CBSA) (MEDLISPRIYY13060) from Jul 2017 to Feb 2025 about Bay City, listing, TX, median, price, and USA.