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South of Market Housing Data

South of Market has 16,840 housing units across 7 census tracts, a mid-sized neighborhoods in San Francisco. The median rent is $2,121, the median owner-occupied home is worth $939,000, and 79.8% of occupied homes are rented. On today's market, Zillow puts asking rent at $4,531 and the typical home at $811,000 as of August 2026.

That rent is the 10th lowest of 38 neighborhoods and 14% below the citywide figure of $2,476. The figures below come from the Census Bureau's American Community Survey, rolled up from tract level as described in the methodology, and are part of the San Francisco housing overview.

Map of San Francisco with South of Market highlighted
$2,121Median rent29th of 38$939kMedian home value35th of 3779.8%Renters10th of 3818.1%Vacant units4th of 38$103kMedian household income29th of 3841.7%Rent-burdened renters16th of 381.68People per household35th of 3818.8%Homes built before 194032nd of 38$811kZillow home value, August 202636th of 37$4,531Zillow asking rent, August 202617th of 38+114%Asking rent vs rent paid7th of 38+8.2%Home value change, 1 year32nd of 37

Ranks are among the 38 San Francisco neighborhoods on this site. "Of 38" means 38 neighborhoods with at least 500 homes. Census figures are ACS 2020-2024; the last four cards are Zillow market data for August 2026.

Who owns and who rents in South of Market

Of 13,789 occupied homes in South of Market, 11,004 are rented and 2,785 are owner-occupied. That renter share of 79.8% is the 10th highest of 38 neighborhoods, 18.0 points above the citywide figure of 61.8%. Households average 1.68 people, 1.76 in owned homes and 1.66 in rentals.

Owners and renters in South of Market compared with San Francisco
  1. Renter-occupied79.8%SF 61.8%
  2. Owner-occupied20.2%SF 38.2%

See every neighborhood ranked by renter share or by homeownership rate.

What rent costs in South of Market

The median gross rent in South of Market is $2,121 a month, estimated from the rent distribution of 10,834 renter households. Gross rent includes utilities. That is the 10th lowest of 38 neighborhoods and 14% below the citywide figure of $2,476.

41.7% of renter households here spend 30 percent or more of their income on rent, the Census threshold for being rent-burdened, and 18.7% spend half or more. Citywide, 39.6% of renters are rent-burdened. Compare on the median rent, rent burden and severe rent burden rankings.

Rent burden in South of Market compared with San Francisco
  1. Paying 30% or more41.7%SF 39.6%
  2. Paying 50% or more18.7%SF 19.8%

What homes are worth in South of Market

Owners in South of Market put the median value of their home at $939,000, the 3rd lowest of 37 neighborhoods and 34% below the citywide figure of $1,425,000. This is the owner's own estimate as reported to the Census, not a sale price, so it runs below market in a rising market.

The homeowner vacancy rate, homes for sale as a share of the owner stock, is 8.4%. See the home value ranking.

What South of Market costs on the market right now

Zillow puts the typical home in South of Market at $811,000 as of August 2026, the 2nd lowest of 37 neighborhoods and 43% below the citywide figure of $1,425,000. That is up 8.2% over the past year and down 14.7% over five years, and the one-year change is the 6th lowest of 37 neighborhoods. The Census value above is what owners said their home was worth, averaged over the 2020-2024 survey years. Zillow's figure is a model of what homes would sell for now, so the two are expected to differ, and Zillow's is the one to use for today's market.

The typical asking rent on a new listing in South of Market is $4,531 a month as of August 2026, by Zillow's rent index, the 17th highest of 38 neighborhoods and 3% below the citywide figure of $4,682. Asking rent is up 28.4% over the past year. Current tenants here pay a median of $2,121 including utilities, so a new lease costs about 114% more than what the typical renter already pays. That premium is the 7th highest of 38 neighborhoods. Rent control, long tenancies and subsidized housing all hold paid rents below asking rents, so the widest gaps are where tenants have stayed longest or where much of the stock is below market, and the citywide premium is 89.1%.

Zillow typical home value in South of Market, 2000 to 2026
2000 Typical home value: $447,0002001 Typical home value: $522,0002002 Typical home value: $467,0002003 Typical home value: $487,0002004 Typical home value: $546,0002005 Typical home value: $661,0002006 Typical home value: $683,0002007 Typical home value: $697,0002008 Typical home value: $658,0002009 Typical home value: $576,0002010 Typical home value: $556,0002011 Typical home value: $540,0002012 Typical home value: $588,0002013 Typical home value: $730,0002014 Typical home value: $832,0002015 Typical home value: $968,0002016 Typical home value: $990,0002017 Typical home value: $964,0002018 Typical home value: $1.00M2019 Typical home value: $993,0002020 Typical home value: $976,0002021 Typical home value: $950,0002022 Typical home value: $943,0002023 Typical home value: $836,0002024 Typical home value: $788,0002025 Typical home value: $749,0002026 Typical home value: $811,000
Typical home value
Zillow asking rent in South of Market, 2017 to 2026
2017 Asking rent: $3,5402018 Asking rent: $3,5732019 Asking rent: $3,7212020 Asking rent: $3,2072021 Asking rent: $3,2112022 Asking rent: $3,2922023 Asking rent: $3,2162024 Asking rent: $3,2082025 Asking rent: $3,5282026 Asking rent: $4,531
Asking rent

Rankings: current home values, asking rents and the asking rent premium.

Source: Zillow Research, ZHVI and ZORI, August 2026. The home value is the average of Zillow's index for South of Market, the Zillow area inside this boundary. Asking rent is Zillow's ZIP code index for 94103 and 94107, weighted by the homes in each ZIP. Zillow's areas do not match the Planning Department boundaries exactly. Method on the methodology page.

How many homes sit empty in South of Market

3,051 of South of Market's 16,840 housing units were vacant when surveyed, a vacancy rate of 18.1%, the 4th highest of 38 neighborhoods and 5.9 points above the citywide figure of 12.2%. The Census counts a unit as vacant for any reason, including homes between tenants, second homes and units held off the market, so this is broader than the rental vacancy rate.

The rental vacancy rate, units for rent as a share of the rental stock, is 10.8% against 6.7% citywide. Why the vacant units are empty:

Reasons homes are vacant in South of Market, share of vacant units
  1. For rent45.0%
  2. Rented, not yet occupied10.9%
  3. For sale8.5%
  4. Sold, not yet occupied0.9%
  5. Seasonal or occasional use14.2%
  6. Other vacant20.5%

Rankings: overall vacancy, rental vacancy and homeowner vacancy. Every reason above has its own ranking of all 38 neighborhoods: for rent, rented but not yet occupied, for sale, sold but not yet occupied, for seasonal or occasional use and other vacant homes.

What kind of buildings South of Market has

5.8% of homes in South of Market are single-family houses, 5.0% are in two-to-four-unit buildings, and 75.6% are in buildings with 20 or more units. The single-family share is the 9th lowest of 38 neighborhoods.

Housing units by building type in South of Market compared with San Francisco
  1. Single-family, detached3.7%SF 18.0%
  2. Single-family, attached2.1%SF 12.4%
  3. 2 units0.9%SF 9.1%
  4. 3 or 4 units4.1%SF 11.0%
  5. 5 to 9 units4.6%SF 9.2%
  6. 10 to 19 units8.9%SF 9.2%
  7. 20 to 49 units13.4%SF 10.7%
  8. 50 or more units62.2%SF 20.1%
  9. Other0.0%SF 0.2%

Rankings by single-family share, share in two-to-four-unit buildings and share in large buildings, or by each building type: detached, attached, 2 units, 3-4 units, 5-9 units, 10-19 units, 20-49 units and 50+ units.

When South of Market's homes were built

18.8% of South of Market's housing was built before 1940, the 7th lowest of 38 neighborhoods, and 37.1% has been built since 2010. Citywide the pre-1940 share is 45.2%.

Housing units in South of Market by decade built
  1. 1939 or earlier18.8%
  2. 1940 to 19492.0%
  3. 1950 to 19590.9%
  4. 1960 to 19692.1%
  5. 1970 to 19795.1%
  6. 1980 to 19895.5%
  7. 1990 to 19997.6%
  8. 2000 to 200921.0%
  9. 2010 to 201931.5%
  10. 2020 or later5.6%

Rankings by pre-1940 housing and new construction, or by decade: 1940s, 1950s, 1960s, 1970s, 1980s, 1990s, 2000s, 2010s and 2020+.

Household income in South of Market

The median household income in South of Market is $102,800, the 10th lowest of 38 neighborhoods and 27% below the citywide figure of $140,600. Income and rent together drive the rent burden figure above. See the income ranking.

Overcrowding and turnover in South of Market

8.8% of occupied homes in South of Market have more than one person per room, the Census definition of overcrowding, the 11th highest of 38 neighborhoods. Citywide it is 6.0%. 11.6% of households moved in 2023 or later, a rough measure of turnover, against 6.2% citywide. Rankings: overcrowding, recent movers.

How South of Market's housing has changed

Between the 2010-2014 and 2020-2024 surveys, the median rent in South of Market went from $717 to $2,121, up 123% after inflation. The median home value went from $649,000 to $939,000, up 9% in real terms, and median household income rose 110% in real terms.

Median rent in South of Market, nominal and in 2024 dollars
2010-2014 Median rent, nominal: $717
In 2024 dollars: $9502015-2019 Median rent, nominal: $1,246
In 2024 dollars: $1,5292020-2024 Median rent, nominal: $2,121
In 2024 dollars: $2,121
Median rent, nominalIn 2024 dollars
Five-year ACS estimates. Earlier vintages are on 2010 census tracts, allocated to today's boundaries by land area.
SurveyPopulationHousing unitsRentersVacancyMedian rentMedian valueMedian income
2010-201417,81411,37678.4%18.0%$717$649k$37k
2015-201924,04614,48284.1%13.4%$1,246$950k$69k
2020-202425,79516,84079.8%18.1%$2,121$939k$103k

Decennial census, 2010 and 2020

The full census counts every home rather than sampling, so these figures have no margin of error. South of Market's population grew 44% between 2010 and 2020 while its housing stock grew 35%.

CensusPopulationHousing unitsOccupiedVacantVacancy rateRenters
201019,85211,79010,2271,56313.3%81.1%
202028,50615,91314,3061,60710.1%84.2%

Where South of Market is

South of Market is one of the 41 Analysis Neighborhoods the San Francisco Planning Department uses for reporting, made up of 7 2020 census tracts. It sits in supervisor district 6. The area people call Soma falls inside these boundaries and is included in the figures above.

Nearby: Financial District/South Beach, Mission Bay, Mission, Treasure Island. Or see all neighborhoods.

Census tracts: 017801, 018000, 017804, 017803, 017604, 017603, 017602. Source: U.S. Census Bureau, ACS 2020-2024 5-year estimates (tables B25001 to B25077, B19001, B25008, B25014, B25024, B25034, B25038, B25070), 2010 SF1 and 2020 DHC; DataSF Analysis Neighborhoods crosswalk; Zillow Research ZHVI and ZORI, August 2026. Dollar figures are in 2024 dollars unless marked nominal. Full method on the methodology page.