Real Estate

San Francisco's newer apartments are some of the smallest in U.S.

Data: RentCafe analysis of Yardi Matrix data; Note: Analysis includes U.S. metro areas (defined by Yardi Matrix market boundaries) with the most apartments located in multi-family buildings of 50 units or more; Map: Kavya Beheraj/Axios

Apartments in and around San Francisco rank among the smallest in the country, despite being one of the most expensive places to rent.

Why it matters: Apartment sizes are shrinking nationally, despite a trend that saw rental units get bigger during the early part of the work-from-home era.

San Francisco Bay Area housing market still cooling

Data: Redfin. Chart: Axios Visuals

The San Francisco Bay Area housing market has yet to rebound, with home sale prices in the area continuing to dip.

Why it matters: Any relief from sky-high home prices is welcome, especially as mortgage rates creep up.

San Francisco area rents still steep amid high demand

Data: Moody's Analytics; Table: Kavya Beheraj/Axios

The average asking rent in the San Francisco metro area was up 9.5% at the end of 2022 from the previous year as rising mortgage rates led to an increase in demand for rental apartments, according to a new report.

Why it matters: The San Francisco area has a well-known housing crisis and high rents compound those challenges.

Most San Francisco renters can't afford starter homes

Data: Point2Homes; Map: Tory Lysik/Axios Visuals

San Francisco renters on average earned 40% of the income they would need to afford a median-priced "starter home" in the city, per October figures from Point2Homes.

  • Researchers consider "starter homes" properties valued in the lower one-third of all available homes for sale.
Megan Rose Dickey
Dec 7, 2022 - News

Transamerica Pyramid renovation aims to revitalize downtown

Transamerica Pyramid

A rendering of the Transamerica Pyramid from Mark Twain Plaza. Photo: Courtesy of DBOX

The iconic Transamerica Pyramid Center is getting a makeover for its 50th anniversary.

Driving the news: Real estate development firm SHVO and Deutsche Finance America bought the skyscraper and its surrounding area for $650 million in 2020, and the groups are financing the $400 million redevelopment project.

Nick Bastone
Nov 21, 2022 - Politics

SF supervisors question California's housing mandate

Look at San Francisco

The city. Photo: Gabrielle Lurie/The San Francisco Chronicle via Getty Images

The deadline for San Francisco to finalize its plan to increase housing over the next eight years is approaching, but already local politicians are questioning whether the state-mandated goals are realistic.

Driving the news: Last week, the Board of Supervisors met to discuss the city's housing element, which must show California regulators how San Francisco intends to build 82,000 housing units — 46,000 of which need to be affordable.

Megan Rose Dickey
Nov 15, 2022 - News

San Francisco Bay Area is fastest-growing urban area in the country

Birds eye view of Painted Lady houses in San Francisco

Photo: David Paul Morris/Bloomberg via Getty Images

The San Francisco Bay Area is the fastest-growing urban area, from an economic standpoint, compared to the 50 largest metros in the U.S., per a recent report.

Driving the news: The top 10 fastest-growing cities nationwide are moving the "center of gravity" for economic activity away from the East Coast, Axios' Madalyn Mendoza reports, citing the American Growth Project by the Kenan Institute of Private Enterprise, a business policy think tank.

Nick Bastone
Nov 7, 2022 - News

San Francisco's vacant housing debate to be settled Tuesday

Apartments for rent in San Francisco

Apartment for rent in San Francisco. Photo: Justin Sullivan/Getty Images

Prop M, the proposed vacant housing tax, could be among the closer local races in Tuesday's elections.

Context: Roughly 10% of housing units in San Francisco (40,458 out of 406,399) went unoccupied in 2019, a January report uncovered.

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