Figures

Bay Area Multifamily Figures Q3 2026

October 23, 2026 5 Minute Read

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  • Bay Area rents continue to climb, increasing 3.8% QoQ and 9.8% YoY to $3,497 per unit, complemented by a low 3.0% market vacancy rate, which is unchanged from last quarter.
  • San Francisco led the way as rents rose 15.4% YoY to $4,180, driven by Downtown (+25.3%) and SoMa (+20.1%). Vacancy still rose 59 bps to 3.0% as net absorption came in at -1,213 units for the quarter.
  • Oakland/Berkeley continues to outperform the broader East Bay, posting submarket-leading year-over-year rent growth of +9.3%.
  • Silicon Valley remained the tightest market in terms of vacancy at 2.7% with an average rent of $3,661 (+8.6% YoY) per unit.
  • Capital markets diverged as San Francisco traded $1.46 billion across 123 deals while Silicon Valley reported just 24 transactions for $569 million in total volume.