Investor-friendly real estate agents in San Francisco, CA
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San Francisco does not cash flow at median prices, and nobody honest will tell you it does. Typical home values in the San Francisco-Oakland-Berkeley metro are about $1.12 million and typical rent about $3,450, which works out to about 0.31% a month, under a third of the 1% rule. Rents are the bright spot: up about 12% in the past year and 20% in three years. Prices are up about 3% in a year but still about 8% below their June 2022 peak. The metro has lost people to other parts of the U.S. every year since 2016, and jobs are below 2019. California caps rent increases and requires just cause for most evictions, and San Francisco's Rent Ordinance adds stricter limits on older buildings. Investor STRs aren't allowed in the city. Our vetted agent partners are a Bay Area broker/owner with 22 years' experience and distressed-property training, and an agent-investor who works on multifamily, flips and out-of-state STRs.
Multifamily purchases in the Bay Area from an agent-investor who lists multifamily as a specialty. Know the building's rent-control status before you price it.
A Certified Distressed Property Expert with 22 years in the Bay Area, plus an agent who flips here herself.
Investment, commercial and condo purchases from a broker/owner and native San Franciscan.
San Francisco doesn't allow investor STRs. One partner owns STRs in the Sierras and works with Bay Area investors buying out of state.
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Is San Francisco worth investing in? The long-term trends
People, jobs, rents and prices for the San Francisco-Oakland-Berkeley metro, straight from the Census Bureau, the Bureau of Labor Statistics and Zillow. Hover or tap a chart for exact values.
View data table
| Period | Value |
|---|---|
| 2010 | 4,344,900 |
| 2011 | 4,401,358 |
| 2012 | 4,465,085 |
| 2013 | 4,533,265 |
| 2014 | 4,602,584 |
| 2015 | 4,669,540 |
| 2016 | 4,713,476 |
| 2017 | 4,741,080 |
| 2018 | 4,759,212 |
| 2019 | 4,761,684 |
| 2020 | 4,745,853 |
| 2021 | 4,623,626 |
| 2022 | 4,595,850 |
| 2023 | 4,601,326 |
| 2024 | 4,623,434 |
| 2025 | 4,630,041 |
View data table
| Period | Value |
|---|---|
| 2011 | +6,520 |
| 2012 | +14,691 |
| 2013 | +15,903 |
| 2014 | +13,661 |
| 2015 | +6,913 |
| 2016 | -12,269 |
| 2017 | -23,874 |
| 2018 | -24,236 |
| 2019 | -31,972 |
| 2020 | -50,074 |
| 2021 | -134,158 |
| 2022 | -81,918 |
| 2023 | -57,062 |
| 2024 | -40,286 |
| 2025 | -29,692 |
View data table
| Period | Value |
|---|---|
| 2010 | 1,925,900 |
| 2011 | 1,959,400 |
| 2012 | 2,032,300 |
| 2013 | 2,098,200 |
| 2014 | 2,167,600 |
| 2015 | 2,253,100 |
| 2016 | 2,334,500 |
| 2017 | 2,386,800 |
| 2018 | 2,440,500 |
| 2019 | 2,490,600 |
| 2020 | 2,282,700 |
| 2021 | 2,335,600 |
| 2022 | 2,462,300 |
| 2023 | 2,458,700 |
| 2024 | 2,436,500 |
| 2025 | 2,419,800 |
View data table
| Period | Value |
|---|---|
| Dec 2015 | $2,413/mo |
| Dec 2016 | $2,467/mo |
| Dec 2017 | $2,583/mo |
| Dec 2018 | $2,675/mo |
| Dec 2019 | $2,744/mo |
| Dec 2020 | $2,520/mo |
| Dec 2021 | $2,732/mo |
| Dec 2022 | $2,830/mo |
| Dec 2023 | $2,831/mo |
| Dec 2024 | $2,915/mo |
| Dec 2025 | $3,084/mo |
| Sep 2026 | $3,445/mo |
View data table
| Period | Value |
|---|---|
| Dec 2010 | $456,876 |
| Dec 2011 | $424,305 |
| Dec 2012 | $471,891 |
| Dec 2013 | $576,441 |
| Dec 2014 | $643,465 |
| Dec 2015 | $739,149 |
| Dec 2016 | $774,461 |
| Dec 2017 | $848,290 |
| Dec 2018 | $914,331 |
| Dec 2019 | $912,047 |
| Dec 2020 | $972,106 |
| Dec 2021 | $1,106,904 |
| Dec 2022 | $1,106,650 |
| Dec 2023 | $1,103,615 |
| Dec 2024 | $1,128,631 |
| Dec 2025 | $1,096,884 |
| Sep 2026 | $1,120,379 |
View data table
| Period | Value |
|---|---|
| Dec 2015 | 25.5× |
| Dec 2016 | 26.2× |
| Dec 2017 | 27.4× |
| Dec 2018 | 28.5× |
| Dec 2019 | 27.7× |
| Dec 2020 | 32.1× |
| Dec 2021 | 33.8× |
| Dec 2022 | 32.6× |
| Dec 2023 | 32.5× |
| Dec 2024 | 32.3× |
| Dec 2025 | 29.6× |
| Sep 2026 | 27.1× |
Data retrieved October 16, 2026. Figures cover the San Francisco-Oakland-Berkeley metro area.
The numbers and rules that matter in San Francisco
Zillow Home Value Index, San Francisco-Oakland-Berkeley metro, Sep 2026 (+3.1% YoY).
Zillow Observed Rent Index, all home types, Sep 2026 (+12% YoY). Single-family 3-beds rent higher.
Typical rent ÷ typical home value. Well under the 1% rule; plan on cash flow from buying right, not from rents.
Over the past year: home values +3.1%, rents +12%.
California and San Francisco landlord-tenant basics
California is one of the most tenant-friendly states, and San Francisco adds its own Rent Ordinance on top. State law is mostly in the Civil Code; the city's rules are in Administrative Code Chapter 37. The points investors ask about most:
- Statewide rent cap (Tenant Protection Act, AB 1482, Civil Code 1947.12): rent can go up by no more than 5% plus inflation or 10%, whichever is lower, in any 12 months. You can set the starting rent for a new tenant. Buildings less than 15 years old are exempt, and so are single-family homes and condos owned by individuals (not corporations or REITs) if the tenant got the required written notice. The law runs through January 1, 2030 unless extended.
- San Francisco Rent Ordinance: units first built before June 13, 1979 are limited to a yearly allowable increase that the Rent Board sets from a share of inflation, lower than the state cap. Newer units are exempt from those rent limits, but since January 2020 most of them are covered by the city's just-cause eviction rules.
- Just cause: after 12 months, state law requires a listed reason to end a tenancy, and no-fault reasons (such as an owner moving in) require one month's rent as relocation help. In San Francisco, the expiration of a lease or a change in ownership isn't just cause, and many no-fault evictions require relocation payments under the city's own rules.
- Security deposit (Civil Code 1950.5, AB 12): since July 1, 2024, the cap is one month's rent. Landlords who are individuals (or LLCs of individuals) owning no more than two rental properties with four units in total can take up to two months. Return the deposit with an itemized statement within 21 days after move-out.
- Nonpayment: a 3-day notice to pay rent or quit, counting only court days (no weekends or court holidays), before you can file an eviction case. Proposals to lengthen it have come up in Sacramento, so check the current rule before serving.
- Entry (Civil Code 1954): reasonable written notice, presumed to be 24 hours, stating the date, approximate time and purpose, during normal business hours. You can't enter just for a general inspection.
Short-term rental rules in San Francisco
San Francisco only allows short-term rentals by permanent residents, in the home they live in. An investor buying a separate property to run as an STR can't register it.
- Hosts must be natural persons who live and sleep in the unit at least 275 nights a year, and have lived there at least 60 consecutive nights before applying.
- Unhosted stays (you're not home overnight) are capped at 90 nights a year. Hosted stays aren't capped.
- Get a San Francisco Business Registration Certificate from the Treasurer & Tax Collector, then register with the Office of Short-Term Rentals. Registration lasts two years.
- In a building with several units, you can only host in the one unit you live in. Penalties for violations start at $484 per day per unit.
- The city collects transient occupancy tax on stays under 30 days. Building, HOA and lease rules can also prohibit STRs.
Last reviewed October 16, 2026. General information, not legal or tax advice — rules and fees change, so confirm with the city, the statute, or your attorney before you rely on them. Sources: Zillow Research data (ZHVI, ZORI) — San Francisco metro; California Attorney General — Tenant Protection Act guide for landlords; AB 1482 (2019) — Tenant Protection Act; California DRE — California Tenants guide (2025); California Attorney General — Know your rights: security deposits; Civil Code 1950.5 — Security deposits; Civil Code 1954 — Landlord entry; California Courts Self-Help — Eviction notice types; San Francisco Rent Board — Overview of just cause evictions; San Francisco Rent Board — Partial exemption for newly constructed units; San Francisco Planning — FAQs on short-term rentals; San Francisco Planning — Become a certified host; San Francisco Treasurer — Transient occupancy tax.
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Questions investors ask about San Francisco
Which areas do your San Francisco agents cover?
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Our vetted agent partners cover San Francisco and the Bay Area. One is a broker/owner and native San Franciscan with 22 years' experience in investment, commercial and distressed properties. The other is an agent-investor who works on multifamily and flips in the Bay Area and owns STRs in the Sierras. Tell us your strategy, budget and target area and we'll match you.
Is San Francisco a good market for cash-flowing rentals?
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No. Typical rent-to-price in the San Francisco metro is about 0.31% a month, under a third of the 1% rule, so a median-priced rental with a mortgage loses money. Rent control limits increases on most older units, and the metro has lost domestic migrants every year since 2016. Investors here are usually buying for appreciation, a value-add or distressed deal, or a long-term 1031 hold.
Can I run an Airbnb in San Francisco?
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Only in the home you live in. Hosts must be permanent residents who live there at least 275 nights a year, unhosted stays are capped at 90 nights a year, and you must register with the Office of Short-Term Rentals. A separate investment property can't be run as an STR.
Is California landlord-friendly?
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No. State law caps rent increases at 5% plus inflation (10% at most) on most buildings over 15 years old, requires just cause after 12 months, and limits deposits to one month's rent for most landlords. San Francisco's Rent Ordinance is stricter still on buildings from before June 1979.
Can I invest out of state if I live in the Bay Area?
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Yes, and with rent-to-price this low it's often the better route to cash flow. One of our partners here lists out-of-state investing and short-term rentals as specialties. We can also match you with vetted agents in the market you're buying in.
What does it cost to get matched with a San Francisco agent?
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Nothing. Agents Invest is free for investors. The agent pays us a referral fee only if you close a deal with them.
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