San Francisco multifamily rent growth resumed positive trajectory in December

San Francisco’s apartment market ended 2025 on a high note, with rents climbing to unprecedented levels. The metro area posted the nation's fastest annual rent growth, reflecting strong demand amid constrained supply. This surge is significant for a market that only two years ago faced declining rents and elevated vacancies. Today, the combination of robust tech hiring and muted construction has created one of the tightest rental environments in the country.