Location: San Francisco, CA | Metro: San Francisco, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,470 |
| 1 Bedroom | $2,880 |
| 2 Bedrooms | $3,540 |
| 3 Bedrooms | $4,630 |
| 4 Bedrooms | $5,210 |
| 5 Bedrooms | $6,044 |
| 6 Bedrooms | $6,769 |
| 7 Bedrooms | $7,311 |
| 8 Bedrooms | $7,677 |
The market in ZIP code 94140, located in San Francisco, California, is characterized by significant rental activity, with the Fair Market Rent (FMR) set at $3220 for the fiscal year 2024. This figure represents the median rent level for a two-bedroom apartment, indicating a robust demand for rental properties in the area. The lack of specific data on market rent, days on market (DOM), and median home value suggests that the rental market is highly dynamic, with constant fluctuations that make it challenging to pinpoint exact trends.
The absence of a reported percentage for the price-cut share and days on market implies that the supply of rental units is likely balanced with demand, or slightly exceeds it. In a market where supply significantly outpaces demand, you would typically see higher rates of price cuts and longer DOM periods as landlords compete to attract tenants. Conversely, in a market where demand outstrips supply, landlords might have less need to cut prices and properties could be rented quickly, reducing DOM.
The unknown percentage of renter share in ZIP 94140 provides insight into the long-term housing pressures faced by residents. A high renter share often correlates with areas experiencing sustained housing pressures, such as rising rents and limited affordable housing options. In San Francisco, the trend towards higher rents and an increasing number of renters is well-documented, suggesting that ZIP 94140 is part of a broader regional context where housing pressures are significant and likely to persist.
Investors should note that despite the lack of detailed market data, the established FMR indicates a strong rental market, driven by the city's economic vitality and the ongoing challenges of homeownership affordability. The dynamics of this market suggest that rental properties can be a stable investment, given the consistent demand for rental housing in San Francisco.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.