Snapshots

A decade in review - San Francisco outpaces the rest of the United States in rent growth

Fueled by demand from the booming tech industry and combined with supply constraints levied by Proposition M, San Francisco has seen 181.5% rent growth since Q4 2009.

January 22, 2020
  • Fueled by demand from the booming tech industry and combined with supply constraints levied by Proposition M, San Francisco has seen 181.5% rent growth since Q4 2009. 
  • In conjunction with this steep rent growth, average sale price per square foot of office buildings have reached $992 PSF in 2019 versus $288 PSF in 2009, a 244.44% increase.
  • During this ten year period, citywide vacancy has fallen from 17.7% to 5.6%.
  • The submarkets with the highest rent growth realized in this past decade have occurred outside of the San Francisco CBD, particularly in Jackson Square, North Waterfront, and South of Market.

Source: JLL Research

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