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July 2025 Multi-Family Market Report for Residential 5+ Unit Buildings

San Francisco Q2 2025 apartment market report highlights record sales of 5+ unit buildings and continued rent growth.

Economic Policy Uncertainty Index chart from January 2000 through June 2025, with a sharp spike in April 2025.

Chart of U.S. 30-year fixed mortgage rates from 1976 to 2025, peaking in 1981 and rising sharply after 2021.

Quarterly San Francisco 5+ unit apartment sales, with Q2 2025 reaching the highest count in over seven years.

Bar chart of San Francisco 5+ unit listings accepting offers, showing 35% in Q2 2025, up from 29% in Q1.

San Francisco apartment gross rent multiples peaked at 17.8 in 2016, then fell to 11.2 in 2025.

Chart of San Francisco 5+ unit apartment cap rates, rising to 6.1% in 2024 and first-half 2025.

San Francisco 5+ unit apartment sale prices per square foot, 2004–2025.

Bar chart of San Francisco 5+ unit apartment sale prices, peaking at $3.45 million in 2018 and showing first-half 2025 data.

Bar chart of San Francisco 5+ unit apartment prices per unit, peaking at $485,000 in 2019 and reaching $328,000 in 2025.

Chart of apartment asking rents, showing San Francisco rising to about $2,940 while California stays near $2,180.

San Francisco asking-rent chart, 1994–Q2 2025, showing the pandemic drop and subsequent rebound.

San Francisco 5+ unit multifamily market table comparing sales and property metrics across Realtor districts.

Infographic comparing San Francisco sales of apartment buildings with 5+ units by district, building size, and median construction year.

Chart comparing San Francisco 5+ unit apartment sales by price range and building size, with median prices and market times.

Chart of San Francisco 5+ unit building sales by construction era, with most sales in buildings built before 1939.

Chart shows San Francisco housing permits below the 2019 average from April 2024 through April 2025.

Bar chart of San Francisco County housing permits, 2009–2024; 2024 shows 931 units, up 48.5% year over year.

Bar chart of San Francisco population from 2010 to 2024, peaking in 2018 before falling and partially recovering.

Chart of San Francisco employment from 2016 to April 2025, showing a sharp pandemic drop and incomplete recovery.

San Francisco 5+ unit property sales by broker: Compass leads with 118 sales, followed by Collier’s with 55.

Infographic of mortgage rates, consumer sentiment, financial markets, inflation, and factors affecting Bay Area real estate.

Bay Area market reports webpage with a COMPASS link and county report thumbnails.

Compass market report disclaimer describing statistical limitations and legal terms.

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