CRE Investment Guide: San Francisco Market Overview

population

San Francisco proper sits at 815,000 people, down about 3% from pre-pandemic peaks. The broader metro area holds 4.7 million. Population decline has mostly stabilized as return-to-office mandates bring people back.

gdp growth

Metro GDP grew 2.8% in 2025, driven primarily by AI sector expansion and venture capital activity. The city generates about $200 billion in annual economic output with tech representing roughly 40% of the tax base.

major employers

Apple, Google, Meta, and Salesforce remain the big four, but AI companies like Anthropic and OpenAI are scaling fast. UCSF is the largest single employer in the city. Financial services include Wells Fargo, Charles Schwab, and hundreds of VC firms managing over $300 billion in assets.

employment trends

Tech employment is up 15% year-over-year, mostly in AI and machine learning roles. Professional services jobs grew 8%. Retail and hospitality employment recovered to 95% of pre-pandemic levels. Average tech salaries hit $185,000, keeping housing demand strong despite remote work options.

infrastructure

Muni system operates at 85% of pre-pandemic ridership. BART connections to South Bay see heavy use during commute hours. Port of San Francisco handles moderate cargo volume but industrial space is limited. SFO remains a major international gateway with strong business travel recovery.

demographic profile

Median household income runs $125,000 citywide, much higher in tech-heavy neighborhoods. About 45% of residents hold bachelor's degrees or higher. Population skews young professional — median age 38. Home ownership rate sits at 37%, keeping rental demand strong.