Market Snapshot
- Median listing price
- $3.62M
- Median rent
- $4,500/mo
- Days on market
- 1956 days
- Gross rental yield
- 1.49%
- STR vs LTR
- $3,231/mo STR · $4,500/mo LTR
The median listing price in San Francisco, CA ZIP 94123 is $3,624,500 as of June 2026.
The median market rent in San Francisco, CA ZIP 94123 is $4,500/month as of June 2026.
The median days on market in San Francisco, CA ZIP 94123 is 1956 days as of June 2026. The market is currently hot.
At a median list price of $3,624,500 and a median rent of $4,500/month, the gross rental yield in San Francisco, CA ZIP 94123 is 1.49% as of June 2026.
In San Francisco, CA ZIP 94123, median Airbnb revenue is $3,231/month compared to median long-term rent of $4,500/month as of June 2026.
San Francisco, CA 94123 Real Estate Market Report
ZIP Code: 94123
Report Date: June 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in San Francisco are 6.5% compared to the 5.6% average seen in early 2026, indicating that property owners in this market who originated loans earlier this year secured a more favorable rate.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The neighborhood’s current primary market signal is a median sold price of 6,345,000, indicating high transaction values for recent SFR/condo trades and serving as the best indicator of realized market value in the area.
- Liquidity appears constrained despite high prices: the market shows a median days on market of 1,956, which suggests slower sales velocity on the analyzed sample and may indicate pricing friction or longer negotiation timelines rather than rapid turnover; this should be interpreted alongside other signals rather than as a standalone liquidity metric.
- Pricing intensity remains strong: median price per square foot of 1,549 coupled with a up price year-over-year trend and a up rent year-over-year trend supports continued upward pressure on values and rents, favoring sellers where pricing aligns with recent sold comps.
- Market conditions are characterized as hot and subject to moderate interest rate pressure; given reported 30-year fixed mortgage rate dynamics, this combination suggests buyers face cost sensitivity even as demand-driven pricing remains elevated—use conservative financing stress-tests when underwriting deals.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold at market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold above market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.53% rate, 0.9% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
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