The market in numbers
Home values over the last two years
The typical home in the San Francisco metro was worth $1,241,100 in September 2024 and $1,218,600 in August 2026, a change of −1.8% over two years. The high point of the period came in September 2024, at $1,241,100, and values are 1.8% below it today.
Where prices are rising fastest
The ten San Francisco ZIP codes with the strongest change in home values over the past twelve months.
| ZIP code | Area | Home value | 12 months | 5 yrs, per year |
|---|---|---|---|---|
| 94114 | San Francisco | $2,015,400 | +19.5% | +1.1% |
| 94123 | San Francisco | $2,505,200 | +18.9% | +1.8% |
| 94118 | San Francisco | $2,261,600 | +18.8% | +0.6% |
| 94131 | San Francisco | $1,761,600 | +18.6% | +1.1% |
| 94121 | San Francisco | $1,833,000 | +17.6% | +0.8% |
| 94115 | San Francisco | $1,545,300 | +17.1% | +0.9% |
| 94127 | San Francisco | $2,007,800 | +16.7% | +1.3% |
| 94117 | San Francisco | $1,685,300 | +16.7% | +0.6% |
| 94027 | Atherton | $8,619,600 | +15.6% | +4.3% |
| 94133 | San Francisco | $1,409,500 | +15.5% | +0.2% |
Where prices are falling
49 of the metro's ZIP codes are below where they were a year ago. These are the ten largest declines.
| ZIP code | Area | Home value | 12 months | From its peak |
|---|---|---|---|---|
| 94612 | Oakland | $527,600 | −8.2% | −36.2% |
| 94568 | Dublin | $1,231,600 | −6.0% | −14.3% |
| 94607 | Oakland | $515,300 | −4.8% | −29.7% |
| 94621 | Oakland | $453,300 | −4.8% | −23.9% |
| 94588 | Pleasanton | $1,361,100 | −4.3% | −13.6% |
| 94551 | Livermore | $967,300 | −4.1% | −9.5% |
| 94544 | Hayward | $807,100 | −4.0% | −13.2% |
| 94545 | Hayward | $878,700 | −4.0% | −14.1% |
| 94582 | San Ramon | $1,669,400 | −3.7% | −12.9% |
| 94583 | San Ramon | $1,336,700 | −3.4% | −13.6% |
Best rental yields
Gross yield is a year's rent divided by the home value, before costs. These are the 10 highest yields among the 134 San Francisco ZIP codes with a rent index.
| ZIP code | Area | Home value | Monthly rent | Gross yield | Rent, 12 months |
|---|---|---|---|---|---|
| 94621 | Oakland | $453,300 | $2,700 | 7.1% | +4.0% |
| 94612 | Oakland | $527,600 | $3,100 | 7.0% | +15.7% |
| 94103 | San Francisco | $823,100 | $4,400 | 6.5% | +28.8% |
| 94595 | Walnut Creek | $676,600 | $3,600 | 6.5% | n/a |
| 94607 | Oakland | $515,300 | $2,700 | 6.4% | +12.4% |
| 94105 | San Francisco | $1,127,000 | $6,000 | 6.3% | +27.5% |
| 94531 | Antioch | $660,600 | $3,500 | 6.3% | +5.2% |
| 94102 | San Francisco | $740,500 | $3,800 | 6.1% | +23.4% |
| 94603 | Oakland | $504,500 | $2,600 | 6.1% | +3.0% |
| 94561 | Oakley | $656,600 | $3,300 | 6.0% | +4.4% |
Most affordable against local incomes
Home value divided by the median household income of the people who live in the ZIP code. A lower multiple means homes cost fewer years of local earnings. The metro typical is 8.3×.
| ZIP code | Area | Home value | Median income | Price to income |
|---|---|---|---|---|
| 94561 | Oakley | $656,600 | $134,700 | 4.9× |
| 94608 | Emeryville | $601,500 | $120,200 | 5.0× |
| 94105 | San Francisco | $1,127,000 | $225,000 | 5.0× |
| 94505 | Discovery Bay | $778,000 | $146,500 | 5.3× |
| 94607 | Oakland | $515,300 | $94,900 | 5.4× |
| 94531 | Antioch | $660,600 | $120,900 | 5.5× |
| 94513 | Brentwood | $785,000 | $142,200 | 5.5× |
| 94564 | Pinole | $714,300 | $127,700 | 5.6× |
| 94547 | Hercules | $736,500 | $129,400 | 5.7× |
| 94107 | San Francisco | $1,042,400 | $182,900 | 5.7× |
Who is moving in
Household moves between the 2022 and 2023 tax years. Migration is measured by county, so the figures cover each county in the metro rather than single ZIP codes. None of the metro's 6 counties gained households. The last column is how much more, or less, the average arriving household earned than the average household that left.
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| San Francisco County | −604 | −$3,849.4M | −$56,291 |
| Marin County | −1,892 | +$492.8M | +$67,376 |
| San Mateo County | −5,334 | −$1,782.6M | −$18,677 |
| Contra Costa County | −7,712 | −$903.9M | +$2,143 |
| Alameda County | −15,318 | −$2,625.1M | −$7,715 |
| San Mateo County | −17,326 | −$5,614.5M | −$30,372 |
What CITIZEN sees
CITIZEN grades every US ZIP code on one national scale, reading price and its direction, rent, local earnings, resident equity and where buyers and their money are arriving from. Grades are ranks: an A is the top 10% of the country, an F the bottom 10%. In the San Francisco metro, 48 of 166 ZIP codes grade A and 13 grade F. Which ones, and why, is in CITIZEN.
All 166 ZIP codes
Every ZIP code in the metro with a home value, in numerical order.
Show all 166 ZIP codes
| ZIP code | Area | Home value | 12 months | 5 yrs, per year | Monthly rent | Gross yield |
|---|---|---|---|---|---|---|
| 94002 | Belmont | $2,257,800 | +4.9% | +3.2% | $3,700 | 1.9% |
| 94005 | Brisbane | $1,143,400 | +2.4% | −0.2% | n/a | n/a |
| 94010 | Hillsborough | $3,482,300 | +11.3% | +3.0% | $3,900 | 1.4% |
| 94014 | Daly City | $999,800 | +0.9% | −1.1% | $3,400 | 4.1% |
| 94015 | Daly City | $1,164,000 | +3.6% | 0.0% | $2,900 | 3.0% |
| 94018 | Half Moon Bay | $1,480,000 | +0.6% | +2.1% | n/a | n/a |
| 94019 | Half Moon Bay | $1,569,400 | +2.4% | +2.7% | $4,600 | 3.5% |
| 94020 | La Honda | $1,017,200 | +3.5% | +1.1% | n/a | n/a |
| 94025 | Menlo Park | $2,902,100 | +9.2% | +3.4% | $4,300 | 1.8% |
| 94027 | Atherton | $8,619,600 | +15.6% | +4.3% | n/a | n/a |
| 94028 | Portola Valley | $4,267,300 | +11.4% | +4.3% | n/a | n/a |
| 94030 | Millbrae | $2,048,300 | +7.0% | +3.2% | $3,800 | 2.2% |
| 94037 | Moss Beach | $1,482,200 | +3.6% | +3.0% | n/a | n/a |
| 94038 | Moss Beach | $1,449,600 | +2.5% | +2.5% | n/a | n/a |
| 94044 | Pacifica | $1,255,400 | +1.5% | +0.2% | $3,500 | 3.4% |
| 94060 | Pescadero | $1,194,100 | +1.1% | −4.1% | n/a | n/a |
| 94061 | Redwood City | $1,969,400 | +5.8% | +3.0% | $3,600 | 2.2% |
| 94062 | Woodside | $2,699,300 | +6.7% | +2.0% | $4,300 | 1.9% |
| 94063 | Redwood City | $1,288,300 | +3.2% | +1.1% | $4,500 | 4.2% |
| 94065 | Redwood City | $1,778,300 | +0.9% | +1.3% | $3,800 | 2.6% |
| 94066 | San Bruno | $1,290,300 | +3.2% | +2.0% | $3,400 | 3.1% |
| 94070 | San Carlos | $2,431,400 | +7.4% | +3.6% | $4,500 | 2.2% |
| 94080 | South San Francisco | $1,220,500 | +2.9% | +1.1% | $4,000 | 4.0% |
| 94102 | San Francisco | $740,500 | +8.7% | −2.3% | $3,800 | 6.1% |
| 94103 | San Francisco | $823,100 | +7.8% | −2.9% | $4,400 | 6.5% |
| 94104 | San Francisco | $1,148,300 | +2.8% | −2.2% | n/a | n/a |
| 94105 | San Francisco | $1,127,000 | +9.5% | −1.0% | $6,000 | 6.3% |
| 94107 | San Francisco | $1,042,400 | +10.4% | −1.4% | $5,000 | 5.8% |
| 94108 | San Francisco | $1,059,600 | +14.6% | −0.9% | $3,600 | 4.1% |
| 94109 | San Francisco | $1,068,700 | +10.4% | −1.4% | $4,000 | 4.5% |
| 94110 | San Francisco | $1,428,600 | +14.9% | −0.4% | $4,600 | 3.9% |
| 94111 | San Francisco | $1,121,700 | +8.4% | −0.4% | n/a | n/a |
| 94112 | San Francisco | $1,171,500 | +10.1% | −1.3% | $3,700 | 3.8% |
| 94114 | San Francisco | $2,015,400 | +19.5% | +1.1% | $5,900 | 3.5% |
| 94115 | San Francisco | $1,545,300 | +17.1% | +0.9% | $4,600 | 3.6% |
| 94116 | San Francisco | $1,620,000 | +15.0% | +1.3% | $4,500 | 3.4% |
| 94117 | San Francisco | $1,685,300 | +16.7% | +0.6% | $5,100 | 3.6% |
| 94118 | San Francisco | $2,261,600 | +18.8% | +0.6% | $4,400 | 2.4% |
| 94121 | San Francisco | $1,833,000 | +17.6% | +0.8% | $4,200 | 2.7% |
| 94122 | San Francisco | $1,717,900 | +14.1% | +1.1% | $4,000 | 2.8% |
| 94123 | San Francisco | $2,505,200 | +18.9% | +1.8% | $5,200 | 2.5% |
| 94124 | San Francisco | $947,500 | +7.2% | −1.6% | $4,100 | 5.1% |
| 94127 | San Francisco | $2,007,800 | +16.7% | +1.3% | $6,200 | 3.7% |
| 94129 | San Francisco | $1,839,400 | +14.7% | −4.2% | $5,800 | 3.8% |
| 94131 | San Francisco | $1,761,600 | +18.6% | +1.1% | $4,800 | 3.3% |
| 94132 | San Francisco | $1,380,400 | +11.4% | −0.2% | $3,300 | 2.8% |
| 94133 | San Francisco | $1,409,500 | +15.5% | +0.2% | $4,600 | 3.9% |
| 94134 | San Francisco | $1,085,800 | +6.6% | −1.1% | $4,200 | 4.7% |
| 94158 | San Francisco | $1,357,900 | +12.8% | +1.2% | $5,600 | 5.0% |
| 94303 | East Palo Alto | $2,058,300 | +3.0% | +1.9% | $5,200 | 3.0% |
| 94401 | San Mateo | $1,204,500 | +4.0% | +1.0% | $3,600 | 3.6% |
| 94402 | San Mateo | $2,462,300 | +7.9% | +3.7% | $4,100 | 2.0% |
| 94403 | San Mateo | $1,812,000 | +5.8% | +2.5% | $3,800 | 2.5% |
| 94404 | Foster City | $1,693,800 | +0.7% | +1.5% | $4,400 | 3.1% |
| 94501 | Alameda | $1,136,300 | +2.2% | −0.5% | $2,900 | 3.1% |
| 94502 | Alameda | $1,140,400 | −0.9% | +0.5% | n/a | n/a |
| 94505 | Discovery Bay | $778,000 | −1.4% | −0.5% | $3,500 | 5.4% |
| 94506 | Danville | $1,994,700 | −2.0% | +1.9% | $4,500 | 2.7% |
| 94507 | Alamo | $2,512,800 | +4.6% | +2.5% | $7,200 | 3.4% |
| 94509 | Antioch | $537,300 | −1.9% | −0.7% | $2,300 | 5.0% |
| 94511 | Bethel Island | $630,800 | −1.1% | −0.1% | n/a | n/a |
| 94513 | Brentwood | $785,000 | −1.3% | +0.1% | $3,400 | 5.2% |
| 94514 | Byron | $842,400 | +4.9% | −0.1% | n/a | n/a |
| 94517 | Clayton | $1,033,600 | +1.0% | +0.6% | n/a | n/a |
| 94518 | Concord | $832,800 | −1.1% | +0.3% | $2,700 | 3.9% |
| 94519 | Concord | $705,300 | −0.5% | −0.8% | $3,300 | 5.6% |
| 94520 | Concord | $596,900 | −0.3% | −0.3% | $2,400 | 4.8% |
| 94521 | Concord | $777,000 | +0.2% | −0.3% | $3,000 | 4.6% |
| 94523 | Pleasant Hill | $970,000 | +0.8% | +1.0% | $3,000 | 3.7% |
| 94525 | Crockett | $660,200 | −2.4% | −2.2% | $2,200 | 3.9% |
| 94526 | Danville | $1,711,800 | +0.7% | +1.5% | $3,800 | 2.6% |
| 94528 | Diablo | $3,095,800 | +3.0% | +0.7% | n/a | n/a |
| 94530 | El Cerrito | $1,134,100 | +2.7% | −0.9% | $2,700 | 2.9% |
| 94531 | Antioch | $660,600 | −1.0% | −0.2% | $3,500 | 6.3% |
| 94536 | Fremont | $1,376,400 | −1.5% | +3.2% | $3,400 | 2.9% |
| 94538 | Fremont | $1,268,600 | −2.2% | +2.8% | $3,200 | 3.1% |
| 94539 | Fremont | $2,164,800 | +1.2% | +4.5% | $4,200 | 2.3% |
| 94541 | Hayward | $765,900 | −2.1% | −0.8% | $2,700 | 4.2% |
| 94542 | Hayward | $1,216,700 | −0.2% | +1.4% | $2,400 | 2.4% |
| 94544 | Hayward | $807,100 | −4.0% | −0.6% | $2,700 | 4.0% |
| 94545 | Hayward | $878,700 | −4.0% | −0.3% | $2,800 | 3.8% |
| 94546 | Castro Valley | $1,006,800 | +1.0% | +0.9% | $2,800 | 3.3% |
| 94547 | Hercules | $736,500 | −1.6% | −0.2% | $3,200 | 5.2% |
| 94549 | Lafayette | $1,890,400 | +2.9% | +0.9% | $3,300 | 2.1% |
| 94550 | Livermore | $1,199,700 | −1.9% | +1.3% | $3,000 | 3.0% |
| 94551 | Livermore | $967,300 | −4.1% | +0.9% | $3,100 | 3.9% |
| 94552 | Castro Valley | $1,370,900 | +0.4% | +1.7% | $4,000 | 3.5% |
| 94553 | Martinez | $753,500 | −1.7% | −0.5% | $2,500 | 3.9% |
| 94555 | Fremont | $1,427,400 | −2.2% | +2.9% | $3,800 | 3.2% |
| 94556 | Moraga | $1,604,000 | +2.8% | +1.7% | $3,000 | 2.2% |
| 94560 | Newark | $1,186,900 | −2.8% | +1.5% | $3,700 | 3.7% |
| 94561 | Oakley | $656,600 | −1.1% | −0.7% | $3,300 | 6.0% |
| 94563 | Orinda | $1,930,400 | +2.0% | +1.1% | $5,800 | 3.6% |
| 94564 | Pinole | $714,300 | −1.0% | −1.1% | n/a | n/a |
| 94565 | Pittsburg | $559,000 | −1.2% | −0.7% | $2,500 | 5.3% |
| 94566 | Pleasanton | $1,655,800 | −3.2% | +1.4% | $3,500 | 2.5% |
| 94568 | Dublin | $1,231,600 | −6.0% | +0.6% | $3,300 | 3.2% |
| 94569 | Port Costa | $661,700 | +1.3% | −1.8% | n/a | n/a |
| 94572 | Rodeo | $646,300 | −1.8% | −1.5% | n/a | n/a |
| 94577 | San Leandro | $789,400 | −1.3% | −1.2% | $2,500 | 3.9% |
| 94578 | San Leandro | $768,900 | −1.0% | −0.6% | $2,400 | 3.8% |
| 94579 | San Leandro | $842,500 | −1.1% | −0.7% | $3,600 | 5.1% |
| 94580 | San Lorenzo | $801,000 | −2.0% | −0.1% | $2,600 | 4.0% |
| 94582 | San Ramon | $1,669,400 | −3.7% | +2.3% | $3,700 | 2.6% |
| 94583 | San Ramon | $1,336,700 | −3.4% | +1.4% | $2,900 | 2.6% |
| 94586 | Sunol | $1,446,100 | +2.3% | −1.7% | n/a | n/a |
| 94587 | Union City | $1,198,700 | −2.8% | +1.6% | $2,900 | 3.0% |
| 94588 | Pleasanton | $1,361,100 | −4.3% | +1.3% | $3,100 | 2.8% |
| 94595 | Walnut Creek | $676,600 | +0.1% | +0.4% | $3,600 | 6.5% |
| 94596 | Walnut Creek | $1,068,700 | +1.9% | +1.2% | $3,000 | 3.3% |
| 94597 | Walnut Creek | $969,600 | +1.0% | +1.4% | $2,800 | 3.4% |
| 94598 | Walnut Creek | $1,369,200 | +1.7% | +2.0% | $3,200 | 2.8% |
| 94601 | Oakland | $554,900 | −2.9% | −4.3% | $2,300 | 5.0% |
| 94602 | Oakland | $1,005,800 | +6.5% | −2.6% | $2,700 | 3.2% |
| 94603 | Oakland | $504,500 | −2.9% | −3.6% | $2,600 | 6.1% |
| 94605 | Oakland | $659,200 | −1.3% | −4.1% | $2,500 | 4.6% |
| 94606 | Oakland | $593,900 | −0.5% | −5.1% | $2,500 | 5.0% |
| 94607 | Oakland | $515,300 | −4.8% | −6.3% | $2,700 | 6.4% |
| 94608 | Emeryville | $601,500 | −1.6% | −4.3% | $3,000 | 6.0% |
| 94609 | Oakland | $955,500 | +4.9% | −3.9% | $2,800 | 3.5% |
| 94610 | Oakland | $1,203,800 | +6.0% | −2.9% | $2,300 | 2.3% |
| 94611 | Piedmont | $1,405,000 | +4.4% | −1.9% | $3,000 | 2.5% |
| 94612 | Oakland | $527,600 | −8.2% | −7.4% | $3,100 | 7.0% |
| 94618 | Oakland | $1,634,600 | +7.8% | −1.5% | $2,900 | 2.1% |
| 94619 | Oakland | $829,600 | +0.8% | −3.3% | $2,800 | 4.0% |
| 94621 | Oakland | $453,300 | −4.8% | −4.4% | $2,700 | 7.1% |
| 94702 | Berkeley | $1,187,100 | +7.1% | −1.3% | $2,700 | 2.7% |
| 94703 | Berkeley | $1,270,100 | +4.8% | −1.1% | $2,600 | 2.4% |
| 94704 | Berkeley | $1,133,100 | +1.7% | −1.4% | $2,900 | 3.0% |
| 94705 | Oakland | $1,975,000 | +6.0% | +0.2% | $2,800 | 1.7% |
| 94706 | Albany | $1,250,200 | +6.0% | +0.6% | $2,700 | 2.6% |
| 94707 | Berkeley | $1,770,800 | +9.8% | +1.5% | $3,400 | 2.3% |
| 94708 | Berkeley | $1,607,600 | +4.7% | +0.2% | $3,500 | 2.6% |
| 94709 | Berkeley | $1,334,200 | +8.5% | +0.6% | $2,600 | 2.4% |
| 94710 | Berkeley | $1,003,100 | +3.4% | −2.5% | $3,400 | 4.0% |
| 94801 | Richmond | $507,400 | −1.9% | −1.5% | $2,300 | 5.5% |
| 94803 | Richmond | $725,700 | −1.4% | −1.6% | $2,900 | 4.9% |
| 94804 | Richmond | $567,500 | −2.5% | −2.4% | $2,800 | 6.0% |
| 94805 | Richmond | $697,500 | +1.4% | −1.8% | $2,800 | 4.9% |
| 94806 | San Pablo | $573,800 | −1.3% | −1.4% | $2,300 | 4.9% |
| 94901 | San Rafael | $1,376,700 | +0.7% | +0.8% | $2,800 | 2.5% |
| 94903 | San Rafael | $1,236,200 | +3.6% | +1.6% | $3,400 | 3.3% |
| 94904 | Kentfield | $2,252,700 | +6.2% | +1.4% | $4,400 | 2.3% |
| 94920 | Tiburon | $3,333,700 | +9.1% | +2.0% | $6,500 | 2.3% |
| 94924 | Bolinas | $1,886,800 | +9.1% | −0.8% | n/a | n/a |
| 94925 | Corte Madera | $1,847,400 | +9.5% | +2.7% | $5,100 | 3.3% |
| 94929 | Dillon Beach | $1,347,700 | +0.7% | +1.1% | n/a | n/a |
| 94930 | Fairfax | $1,220,700 | +5.0% | +0.6% | $3,200 | 3.1% |
| 94933 | Lagunitas | $861,700 | +6.7% | −0.3% | n/a | n/a |
| 94937 | Point Reyes Station | $1,468,400 | +3.6% | +0.5% | n/a | n/a |
| 94938 | Bolinas | $1,014,300 | +6.2% | +0.9% | n/a | n/a |
| 94939 | Larkspur | $2,159,600 | +8.4% | +1.6% | $4,000 | 2.2% |
| 94940 | Marshall | $1,522,800 | +10.1% | −0.5% | n/a | n/a |
| 94941 | Mill Valley | $2,131,900 | +9.2% | +2.0% | $5,400 | 3.0% |
| 94945 | Novato | $1,062,300 | +0.6% | +1.3% | $4,000 | 4.5% |
| 94946 | Nicasio | $2,079,300 | +2.8% | +0.2% | n/a | n/a |
| 94947 | Novato | $1,010,600 | +2.3% | +1.1% | $4,000 | 4.7% |
| 94949 | Novato | $1,200,400 | +1.3% | +2.2% | $4,300 | 4.3% |
| 94956 | Point Reyes Station | $1,525,100 | +2.1% | +1.3% | n/a | n/a |
| 94957 | Ross | $4,290,600 | +9.4% | +2.3% | n/a | n/a |
| 94960 | San Anselmo | $1,673,400 | +5.9% | +1.2% | $4,100 | 2.9% |
| 94963 | San Geronimo | $1,239,500 | +2.9% | +0.6% | n/a | n/a |
| 94965 | Sausalito | $1,534,800 | +2.9% | −0.7% | $4,000 | 3.1% |
| 94970 | Stinson Beach | $3,499,300 | +11.6% | +2.7% | n/a | n/a |
| 94971 | Tomales | $1,104,600 | +9.3% | −0.2% | n/a | n/a |
| 94973 | Woodacre | $1,106,200 | +4.8% | +0.9% | n/a | n/a |
Questions
Are home prices going up or down in San Francisco?
Up. Home values across the San Francisco-Oakland-Berkeley metro are up 1.7% over the past twelve months, to a typical $1.22M, and 117 of its 166 ZIP codes are higher than a year ago.
What is the typical home value in San Francisco?
$1,218,600 across the metro's 166 ZIP codes, as of August 2026. It ranges from $453,300 in ZIP 94621 to $8,619,600 in ZIP 94027.
What is the typical rent in San Francisco?
About $3,400 a month, across the 134 ZIP codes with rent data, up 6.3% over the past year.
Which San Francisco ZIP codes are rising fastest?
94114 (San Francisco, +19.5%), 94123 (San Francisco, +18.9%), 94118 (San Francisco, +18.8%), over the past twelve months.
What is the forecast for San Francisco home prices?
The forecast for the typical ZIP code in the metro is +1.0% over the next twelve months. Forecasts are estimates and change every month.
Other housing markets
- Vallejo, CA
- San Jose, CA
- Santa Rosa, CA
- Stockton, CA
- Modesto, CA
- Sacramento, CA
- Fresno, CA
- Reno, NV
- All markets
Sources and method
- Source: CITIZEN, Lualdi Advisors' US housing market intelligence. Home values, rents and forecasts through August 2026; household incomes 2020 to 2024; migration for tax years 2022 to 2023; new homes permitted in 2025.
- Metro figures are medians across the ZIP codes in the metro, not a separate metro index. The two-year chart is the median ZIP value for each month. Grades and scores are CITIZEN's own.
- Updated monthly. Last updated 2026-10-14.
