Rent Tracker
Rent Inflation in San Francisco, CA
The average asking rent in San Francisco, CA is $3,206/month as of 2026-04. That is +6.4% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$3,206/mo
as of 2026-04
Year-over-Year Change
+6.4%
24-Month Rent Trend
Monthly ZORI index values for San Francisco, CA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-04 | $3,206 | +1.04% |
| 2026-03 | $3,173 | +1.08% |
| 2026-02 | $3,139 | +1.00% |
| 2026-01 | $3,108 | +0.42% |
| 2025-12 | $3,095 | -0.13% |
| 2025-11 | $3,099 | -0.19% |
| 2025-10 | $3,105 | +0.16% |
| 2025-09 | $3,100 | +0.36% |
| 2025-08 | $3,089 | +0.52% |
| 2025-07 | $3,073 | +0.59% |
| 2025-06 | $3,055 | +0.73% |
| 2025-05 | $3,033 | +0.70% |
| 2025-04 | $3,012 | +0.90% |
| 2025-03 | $2,985 | +1.05% |
| 2025-02 | $2,954 | +0.61% |
| 2025-01 | $2,936 | +0.41% |
| 2024-12 | $2,924 | -0.10% |
| 2024-11 | $2,927 | -0.07% |
| 2024-10 | $2,929 | -0.24% |
| 2024-09 | $2,936 | -0.10% |
| 2024-08 | $2,939 | +0.20% |
| 2024-07 | $2,933 | +0.38% |
| 2024-06 | $2,922 | +0.45% |
| 2024-05 | $2,909 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices