What is the average Class A rent in San Francisco?

Around 78 USD/sqft/yr ($78 USD) across the broader Class A index. Trophy submarkets like Transbay command 20–40% above that.

How many months of rent-free are normal in San Francisco?

22 months on a 7-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in San Francisco?

The San Francisco Class A market is currently rising. Vacancy is 31.5%, which sets the negotiating context.

Headline Class A rent in San Francisco is around 78 USD/sqft/yr ($78 USD), with 22 months of typical rent-free on a 7-year term.

Headline Class A rent: 78 USD/sqft/yr ($78 USD).
Trophy submarket rents (Transbay) push to roughly $105/sqft/yr.
Typical concessions on a 7-year deal: 22 months free rent.
Vacancy stands at 31.5% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

San Francisco Class A office rents and incentives

Headline Class A rent in San Francisco is around 78 USD/sqft/yr ($78 USD), with 22 months of typical rent-free on a 7-year term.

TL;DR

Headline Class A rent: 78 USD/sqft/yr ($78 USD).
Trophy submarket rents (Transbay) push to roughly $105/sqft/yr.
Typical concessions on a 7-year deal: 22 months free rent.
Vacancy stands at 31.5% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in San Francisco are quoted in USD per sqft per year. Across the broad Class A index the figure is 78, but the trophy tier in Transbay reaches roughly $105/sqft/yr. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard San Francisco concessions on a 7-year Class A lease run to 22 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — Combined federal + California corporate tax effectively reaches 27%. San Francisco gross receipts tax applies to most occupiers; payroll tax is now phased out.

Where rents land by submarket

Transbay sits at the top end (~$105/sqft/yr). Financial District clears around $75/sqft/yr as the prime tier. Jackson Square represents the value end at ~$70/sqft/yr. The full submarket map is on the San Francisco city page.

Key facts

city	San Francisco
country	United States
region	Americas
classARentLocal	78 USD/sqft/yr
classARentUsd	$78/sqft/yr
vacancy	31.5%
typicalLeaseYears	7
typicalRentFreeMonths	22
submarkets	6
primeYieldPct	6.5%
trophyRent	$105/sqft/yr
primeRent	$75/sqft/yr

Frequently asked questions

What is the average Class A rent in San Francisco?: Around 78 USD/sqft/yr ($78 USD) across the broader Class A index. Trophy submarkets like Transbay command 20–40% above that.
How many months of rent-free are normal in San Francisco?: 22 months on a 7-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in San Francisco?: The San Francisco Class A market is currently rising. Vacancy is 31.5%, which sets the negotiating context.

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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