San Francisco Rents Up 22% For A 1-Bedroom Apartment

SAN FRANCISCO — Rent for a one-bedroom apartment in San Francisco is up 21.9 percent year-over-year, a major anomaly in the wider rental landscape, according to a June report from real estate website Zumper.

A one-bedroom in San Francisco is priced at $4,060, while a two-bedroom comes to $5,700, making both the priciest ever in Zumper’s more than a decade of data for the city.

“The biggest story in housing is still supply,” CEO Shawn Mullahy said in the report. “... Where supply is constrained, rents are rising — sometimes aggressively.”

Zumper noted that San Francisco's rental market is shaped by a unique combination of factors, including aggressive AI hiring, return-to-office policies, a nearly empty construction pipeline and a rental occupancy rate of over 96 percent.

The issue isn’t just contained to San Francisco. In Oakland, one-bedroom rents are up 6.2 percent annually and in San Jose they’re up 2.6 percent, according to the website.

Read more from Zumper.