San Francisco experiences 51.6% growth in vacant housing units, highest nationwide

The San Francisco County government meeting on July 4, 2025, focused on the significant increase in vacant housing units within the city, highlighting a 51.6% growth, the highest among major U.S. cities. This alarming trend was primarily attributed to the categories of "for rent," "sold not occupied," and "seasonal or occasional use" properties, where San Francisco ranked either the highest or among the highest compared to other cities.

Officials discussed the implications of these vacancy rates, particularly the "sold not occupied" category, which stood at 1.7% in San Francisco, starkly contrasting with other cities where this figure was often below 0.5%. This discrepancy raises concerns about potential speculation in the housing market, where properties are bought but not occupied, possibly waiting for market conditions to improve.

The meeting also touched on the impact of the COVID-19 pandemic on housing dynamics, with many residents leaving the city and landlords reportedly holding off on renting units to wait for higher prices. This situation has led to a notable increase in vacant rental units, despite ongoing demand for housing in San Francisco.

While the current census data does not differentiate between rent-controlled and market-rate units, officials indicated that new data collection efforts by the rent board could provide insights into the status of rent-controlled properties in the future. The discussion underscored the need for further analysis to understand the underlying causes of the vacancy rates and to address the housing crisis effectively.

In conclusion, the meeting highlighted a critical issue facing San Francisco's housing market, with officials acknowledging the need for more detailed data to inform future policies and strategies aimed at reducing vacancy rates and ensuring housing availability for residents.