In 2022, San Mateo, San Francisco, and Santa Clara were the most expensive districts for housing in the San Francisco Bay Area. In San Francisco, the average square footage price of single-family homes exceeded 1,000 U.S. dollars per square foot. Housing in Solano, on the other hand, was most affordable, with the average square footage price for single family homes at 370 U.S. dollars.
How expensive is buying a home in San Francisco?
Few metros in the U.S. are more expensive than San Francisco, CA. In 2022, the median sales price of existing single-family homes in San Francisco was about 1.4 million U.S. dollars, making it the second priciest market in the U.S. House prices in the Golden City, were not always so high: in 2014, a two-bedroom house in the Bay Area would sell for less than 500,000 U.S. dollars but since then, the median price has more than doubled.
How much does renting an apartment cost?
Despite rents falling in 2020, renting in San Francisco is still far from cheap. Renting a two-bedroom apartment cost close to 4,000 U.S. dollars in 2021. California is one of the least affordable states for renters. In fact, to afford to rent such an apartment, a household needs approximately three full time jobs at minimum wage or two full time jobs at mean wage.
Average price of single-family homes and condominiums in San Francisco Bay area 2022, by submarket
(in U.S. dollars per square foot)
Characteristic
Single-family home
Condo
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Golden Gate Sotheby's International Realty. (June 14, 2023). Average price of single-family homes and condominiums in San Francisco Bay area 2022, by submarket (in U.S. dollars per square foot) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1234783/average-sales-price-of-condos-and-single-family-homes-san-francisco-districts-per-square-foot/
Golden Gate Sotheby's International Realty. "Average price of single-family homes and condominiums in San Francisco Bay area 2022, by submarket (in U.S. dollars per square foot)." Chart. June 14, 2023. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1234783/average-sales-price-of-condos-and-single-family-homes-san-francisco-districts-per-square-foot/
Golden Gate Sotheby's International Realty. (2023). Average price of single-family homes and condominiums in San Francisco Bay area 2022, by submarket (in U.S. dollars per square foot). Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1234783/average-sales-price-of-condos-and-single-family-homes-san-francisco-districts-per-square-foot/
Golden Gate Sotheby's International Realty. "Average Price of Single-family Homes and Condominiums in San Francisco Bay Area 2022, by Submarket (in U.S. Dollars per Square Foot)." Statista, Statista Inc., 14 Jun 2023, https://www.statista.com/statistics/1234783/average-sales-price-of-condos-and-single-family-homes-san-francisco-districts-per-square-foot/
Golden Gate Sotheby's International Realty, Average price of single-family homes and condominiums in San Francisco Bay area 2022, by submarket (in U.S. dollars per square foot) Statista, https://www.statista.com/statistics/1234783/average-sales-price-of-condos-and-single-family-homes-san-francisco-districts-per-square-foot/ (last visited August 24, 2024)
Average price of single-family homes and condominiums in San Francisco Bay area 2022, by submarket (in U.S. dollars per square foot) [Graph], Golden Gate Sotheby's International Realty, June 14, 2023. [Online]. Available: https://www.statista.com/statistics/1234783/average-sales-price-of-condos-and-single-family-homes-san-francisco-districts-per-square-foot/