San Francisco Metro Asking Rents Reach $3,728 as AI Hiring Tightens Market

The average asking rent across the San Francisco metropolitan area has climbed 18% in less than two years to $3,728 a month, overtaking the New York metro area for the first time since 2019 as AI-sector hiring collides with limited housing supply. The surge is intensifying competition not only for premium apartments but also for ordinary rentals in neighborhoods close to major technology employers.