San Francisco’s housing market is one of the most discussed in the U.S. due to its high prices, limited supply, and ongoing affordability challenges. A common question is, “How many housing units are in San Francisco?” This article answers that question with up-to-date data, explores the housing shortage, and highlights efforts to increase supply. Written for UrbanTaken.com, this guide uses clear language, fresh insights, and actionable information to help readers understand the city’s housing landscape in 2025.
Current Number of Housing Units in San Francisco
As of 2024, San Francisco has an estimated 420,662 housing units. This figure is based on the 2020 U.S. Census, which reported 406,628 units, plus net additions from 2020 to 2024. These additions include:
- 2020–2023: Approximately 12,829 new units, accounting for new constructions minus demolitions (about 488 units lost).
- 2024: Only 1,205 units were completed, a 12-year low, bringing the total to around 420,662.
Housing units include single-family homes (18% of the total in 2020), attached units like townhouses (14%), and multi-family buildings such as apartments and condos (over 60%). The exact number for 2025 is not yet available, but the total is likely close to 420,000, given the slow pace of recent construction.
Why Is There a Housing Shortage in San Francisco?
San Francisco faces a severe housing shortage, with demand far exceeding supply. This drives up home prices and rents, making affordability a major issue. The median home price in June 2025 was $1.5 million, a 2.7% increase from 2024, according to Redfin. Several factors contribute to this shortage:
- High Demand: The tech industry and strong economy attract high-earning professionals, increasing competition for homes.
- Zoning Restrictions: Strict zoning laws limit where and how densely developers can build.
- Slow Permitting: In 2022, San Francisco’s permitting process for multi-family housing took an average of 630 days, the slowest in the U.S.
- High Costs: Construction costs in 2023 averaged $473 per square foot, the second-highest globally, discouraging new projects.
- Rent Control: The San Francisco Rent Ordinance, covering units built before 1979, reduces available rental stock by about 15%, per a 2019 study.
These factors create a cycle where limited supply pushes prices higher, making it hard for many to afford housing.
Impacts of the Shortage
The housing shortage affects residents in multiple ways:
- Affordability: Median rents and home prices are among the highest in the U.S., outpacing national averages.
- Homelessness: Limited affordable housing contributes to homelessness, with thousands living on the streets.
- Economic Pressure: High costs push some businesses and residents to relocate to more affordable areas.
Learn more about the impact of housing shortages on real estate markets.
Housing Production Trends in San Francisco
Housing production in San Francisco has slowed significantly in recent years. From 2015 to 2020, the city saw a construction boom, adding 4,500–5,250 units annually. However, production has since declined:
- 2020: 5,022 units completed (recent peak).
- 2023: 2,066 units, the lowest since 2013.
- 2024: Only 1,205 units, a 12-year low.
This chart shows the trend in housing completions from 2010 to 2024:
The decline is due to high interest rates (around 6.77% for a 30-year mortgage in 2025), costly construction, and permitting delays.
Efforts to Address the Housing Shortage
San Francisco is taking steps to increase its housing supply through the Housing Element plan, which aims to build 82,000 new units by 2031. This requires adding over 12,800 units annually, a goal far above recent production rates. Key efforts include:
- Rezoning: Areas like the Sunset and Richmond districts are being rezoned for denser development. In July 2024, Mayor London Breed proposed rezoning high-office areas for housing.
- Streamlined Permitting: In 2024, the state streamlined San Francisco’s permitting process due to missed housing targets, speeding up approvals.
- Commercial Conversions: Proposition C (March 2024) supports converting 5 million square feet of office space into about 5,000 housing units.
- Affordable Housing: About one-third of units built from 2020 to 2023 were affordable, including projects like Maceo May Apartments (104 units) and Kapuso at Balboa Park (131 units).
The state’s Regional Housing Needs Allocation (RHNA) mandates these efforts, but as of April 2025, the city is only 9% toward its 2031 goal.
Discover how zoning changes shape housing markets.
What’s Next for San Francisco Housing?
The city’s housing future depends on overcoming current challenges. At the current pace of 1,205 units per year, San Francisco will fall short of its 82,000-unit goal by 2031. However, several factors could improve the outlook:
- Policy Changes: Faster permitting and rezoning may boost construction.
- Economic Recovery: Stabilizing interest rates could encourage more development.
- Major Projects: Developments like Treasure Island (1,000 units) and India Basin (1,525 planned units) could add significant supply.
These efforts aim to ease affordability issues and reduce homelessness, but their success hinges on consistent policy execution.
People Also Ask: Common Questions Answered
- Why are houses so expensive in San Francisco?
High demand from tech workers, limited land, and strict zoning laws drive up prices. Construction costs and slow permitting also play a role. Read more about why houses are expensive in San Francisco. - How can I apply for affordable housing in San Francisco?
Visit the San Francisco Housing Portal to apply for affordable units. Eligibility depends on income and household size. Learn how to apply for affordable housing. - Is San Francisco’s housing market cooling?
Prices remain high, but production has slowed due to economic factors. A crash is unlikely, but growth may stabilize. Check if housing prices are dropping. - How does population growth affect housing?
Population growth increases demand, putting pressure on limited supply. Explore how population drives housing demand.
Conclusion
San Francisco’s estimated 420,000 housing units in 2024 are not enough to meet demand, leading to high prices and a persistent shortage. The city’s Housing Element plan targets 82,000 new units by 2031, but with only 1,205 units built in 2024, progress is slow. Rezoning, streamlined permitting, and affordable housing projects offer hope, but challenges like high costs and delays remain. For more real estate insights, visit UrbanTaken.com or check the U.S. Census Bureau for data.