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 in San Francisco County/city, CA (MEDLISPRIPERSQUFEE6075) from Jul 2016 to Sep 2025 about San Francisco County/City, CA; square feet; listing; median; price; and USA.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in San Francisco-Oakland-Hayward, CA (CBSA) (MEDLISPRIPERSQUFEE41860) from Jul 2016 to Sep 2025 about San Francisco, square feet, CA, listing, median, price, and USA.

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.

Housing Inventory: Median Listing Price per Square Feet in San Francisco County/city, CA was 917.00000 U.S. $ in August 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 September of 2025.

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

Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in San Francisco County/city, CA was -1.96% in August 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 October 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.

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 Year-Over-Year in San Francisco County/city, CA was -4.82% in August 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 October of 2025.

The average rent for warehouses and distribution centers in the San Francisco Bay Area, California, has increased year-on-years since 2017. In the first quarter of 2024, the average rent amounted to ***** U.S. dollars per square foot. That was significantly higher than the average warehouse rent in the United States.

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.

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

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

In early 2025, construction costs for elementary schools in San Francisco were on average over *** U.S. dollars per square foot. From the cities on display here, San Francisco, Portland, and Honolulu had some of the highest construction costs for educational buildings. The construction of one square foot of elementary school space was cheapest in Miami. University buildings were on average the most expensive type of educational building.

In the second quarter of 2025, Portland was one of the U.S. cities with the most expensive average construction cost for industrial warehouses. Constructing a warehouse in that city could have a cost that ranged between *** and *** U.S. dollars per square foot. It was followed by Honolulu and San Francisco, although at some distance. Meanwhile, Miami and Austin were the least expensive cities to build warehouses. The most expensive U.S. cities to construct residential buildings were New York, Honolulu and San Francisco.

Housing Inventory: Median Home Size in Square Feet in San Francisco County/city, CA was 1275.00000 Level in August of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Home Size in Square Feet in San Francisco County/city, CA reached a record high of 1516.00000 in May of 2019 and a record low of 1227.00000 in February of 2022. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Home Size in Square Feet in San Francisco County/city, CA - last updated from the United States Federal Reserve on September of 2025.

In the second quarter of 2025, Portland and San Francisco were some of the most expensive cities in the United States for the construction of general hospitals. The cost of building a hospital in Portland ranged between ***** and ***** U.S. dollars. Boston and Los Angeles were the next cities in the ranking. Meanwhile, Las Vegas was one of the cheapest city in the list to build a general hospital.

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.

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.