San Francisco’s median home value jumped to a file $2.15 million in March, up 18% from a yr earlier as wealth generated by synthetic intelligence startups flooded town, in response to brokerage Compass Inc.
Rental costs additionally surged, rising 27% to $1.36 million, Compass stated in a report. That was slightly below the $1.375 million peak of April 2022.
“The financial adjustments created by the Iran battle – reminiscent of rising rates of interest and monetary market volatility – haven’t affected the extraordinarily heated market dynamics in San Francisco, that are being fueled by the brand new employment and wealth generated by the AI startup growth,” Compass Chief Market Analyst Patrick Carlisle stated within the report.
AI firms reminiscent of OpenAI and Anthropic PBC have created a brand new gold rush in San Francisco and staff are pouring their wealth into houses within the compact metropolis, which has little new housing improvement. Not less than 22 homes bought for greater than $5 million in March, a one-month file, Compass stated. As well as, 24 apartment gross sales topped $3 million — additionally an all-time month-to-month gross sales excessive.
The value bounce in San Francisco contrasts with a modest 0.8% U.S. value enhance within the yr by March, as tracked by Zillow Group Inc. The earlier value peak for homes within the California metropolis was April 2022, when consumers rushed to shut offers earlier than rates of interest soared.
High photograph: Properties in San Francisco. Photographer: David Paul Morris/Bloomberg.
Copyright 2026 Bloomberg.
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