South of Market, San Francisco, CA—94103
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South of Market, San Francisco, CA
As of Oct '25, the median home price in South of Market, San Francisco, CA is $753,000, with a year-over-year change of -5.4%. This indicates that home prices in South of Market, San Francisco, CA are decreasing. According to Zillow, the 1-year price projection is -0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $753,000 | -5.4% |
| Single Family | $1,012,000 | -5.2% |
| Condos | $724,000 | -5.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $606,000 | -7.2% |
2 Bed | $847,000 | -5.5% |
3 Bed | $1,244,000 | -2.6% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — South of Market, San Francisco, CA
As of July '25, Rentcast reports the average rent in South of Market, San Francisco, CA is $3,080, with a year-over-year rent change of -12.5%. Per bedroom, the median rent as of July '25 in South of Market, San Francisco, CA is studios: $2,180, 1-bedrooms: $2,910, 2-bedrooms: $4,180, 3-bedrooms: $4,770, 4-bedrooms: $4,350. The most common rental property sizes in South of Market, San Francisco, CA are studio and 1-bedroom, accounting for 35.3% and 34.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,940 | $3,080 |
| Studio Rent | $2,000 | $2,180 |
| 1 Bed Rent | $2,890 | $2,910 |
| 2 Bed Rent | $4,000 | $4,180 |
| 3 Bed Rent | $5,000 | $4,770 |
| 4 Bed Rent | $5,250 | $4,350 |
% of Rental Stock
Property Listings — South of Market, San Francisco, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in South of Market, San Francisco, CA is 87. This is a increase of 51.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $914,000 | 10.0% |
Listing Count | 83 | -20.0% |
| Listings as % of Homes | 0.4% | -20.0% |
Days on Market | 87 | 51.0% |
Demographics — South of Market, San Francisco, CA
As of the latest ACS Survey released in 2023, South of Market, San Francisco, CA has a population of 33,500, which has increased by 16.7% over the past 5 years. South of Market, San Francisco, CA is a less popular place for families, as children make up 8.5% of the population. The area has a highly educated workforce, with 55.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,500 | 16.7% |
% Under 18 | 8.5% | -1.2% |
% Seniors | 12.7% | -0.8% |
% WFH | 28.0% | 250.0% |
% w/ College Degree | 55.9% | 12.7% |
As of the latest ACS Survey released in 2023, South of Market, San Francisco, CA is a predominantly white area, with 31.9% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in South of Market, San Francisco, CA is asian, making up 31.3% of the population. Foreign-born residents account for 36.0% of the population in South of Market, San Francisco, CA, and this percentage has decreased by 4.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 31.9% | -2.4% |
% Black | 9.9% | 13.8% |
% Hispanic | 20.0% | -1.0% |
% Asian | 31.3% | 1.3% |
% Foreign Born | 36.0% | -4.8% |
Mortgage and Risk — South of Market, San Francisco, CA
According to HUD data as of 2023, there were 169 mortgage originations in South of Market, San Francisco, CA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in South of Market, San Francisco, CA. Investor activity is low, as 3.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 169 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 3.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — South of Market, San Francisco, CA
As of 2024, the percent of homes in South of Market, San Francisco, CA under the Section 8 program is 16.9%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In South of Market, San Francisco, CA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2,740 |
Total Units Section 8 | 2,607 |
% Rentals under Section 8 | 16.9% |
% Occupied Section 8 | 91.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$350 | $2,890 | $2,540 |
| 2 Bedroom | -$970 | $4,000 | $3,030 |
| 3 Bedroom | -$1,290 | $5,000 | $3,710 |
| 4 Bedroom | -$1,220 | $5,250 | $4,030 |
Affordability — South of Market, San Francisco, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.2 |
| Median Home Price | $753,000 |
| Median Household Income | $122,000 |