Rent Tracker
Rent Inflation in San Francisco, CA
The average asking rent in San Francisco, CA is $3,409/month as of 2026-08. That is +10.9% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$3,409/mo
as of 2026-08
Year-over-Year Change
+10.9%
24-Month Rent Trend
Monthly ZORI index values for San Francisco, CA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $3,409 | +1.67% |
| 2026-07 | $3,353 | +1.79% |
| 2026-06 | $3,294 | +1.73% |
| 2026-05 | $3,238 | +1.31% |
| 2026-04 | $3,196 | +1.01% |
| 2026-03 | $3,164 | +1.09% |
| 2026-02 | $3,130 | +0.97% |
| 2026-01 | $3,100 | +0.42% |
| 2025-12 | $3,087 | -0.06% |
| 2025-11 | $3,089 | -0.16% |
| 2025-10 | $3,094 | +0.26% |
| 2025-09 | $3,086 | +0.36% |
| 2025-08 | $3,075 | +0.56% |
| 2025-07 | $3,058 | +0.49% |
| 2025-06 | $3,043 | +0.66% |
| 2025-05 | $3,023 | +0.60% |
| 2025-04 | $3,005 | +0.91% |
| 2025-03 | $2,978 | +1.02% |
| 2025-02 | $2,948 | +0.61% |
| 2025-01 | $2,930 | +0.41% |
| 2024-12 | $2,918 | -0.10% |
| 2024-11 | $2,921 | +0.00% |
| 2024-10 | $2,921 | -0.24% |
| 2024-09 | $2,928 | — |
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