Rent Tracker
Rent Inflation in San Francisco, CA
The average asking rent in San Francisco, CA is $3,258/month as of 2026-05. That is +7.1% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$3,258/mo
as of 2026-05
Year-over-Year Change
+7.1%
24-Month Rent Trend
Monthly ZORI index values for San Francisco, CA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-05 | $3,258 | +1.34% |
| 2026-04 | $3,215 | +1.04% |
| 2026-03 | $3,182 | +1.08% |
| 2026-02 | $3,148 | +0.99% |
| 2026-01 | $3,117 | +0.42% |
| 2025-12 | $3,104 | -0.13% |
| 2025-11 | $3,108 | -0.19% |
| 2025-10 | $3,114 | +0.19% |
| 2025-09 | $3,108 | +0.36% |
| 2025-08 | $3,097 | +0.55% |
| 2025-07 | $3,080 | +0.59% |
| 2025-06 | $3,062 | +0.69% |
| 2025-05 | $3,041 | +0.73% |
| 2025-04 | $3,019 | +0.90% |
| 2025-03 | $2,992 | +0.98% |
| 2025-02 | $2,963 | +0.61% |
| 2025-01 | $2,945 | +0.41% |
| 2024-12 | $2,933 | -0.10% |
| 2024-11 | $2,936 | -0.03% |
| 2024-10 | $2,937 | -0.24% |
| 2024-09 | $2,944 | -0.10% |
| 2024-08 | $2,947 | +0.20% |
| 2024-07 | $2,941 | +0.38% |
| 2024-06 | $2,930 | — |
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