The story of this market
The typical home in ZIP 94104 sells for about $948,000, or $1,110 per square foot.
Prices are down 21% from a year ago, which gives buyers more room to negotiate. Homes take about 39 days to sell. HUD's fair market rent for a two-bedroom is $4,425 a month.
ZIP 94104
The 94104 housing market is extremely limited due to its status as a commercial-heavy Financial District with fewer than 500 total homes. Recent data shows a significant year-over-year decline in median prices and very low sales volume, reflecting the area's lack of traditional residential inventory. Market conditions are currently characterized by high volatility due to the small sample size of residential transactions.
This ZIP is best suited for urban professionals and investors who prioritize proximity to the Financial District, as it contains very few residential properties.
Median prices moved down 21.0% year over year.
Homes spend a median of 39 days on market with 1.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 94.9% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) — a stable, low-distress profile.
ZCTA 94104, San Francisco County, CA
Not determinable at the ZIP level; San Francisco generally experiences high property crime rates relative to national averages.
Not determinable; the ZIP is primarily a commercial Financial District with very few residential units.
The area faces standard urban climate risks, with projections indicating an increase in extreme heat days over the next 30 years.
The ZIP serves as the core of San Francisco's Financial District, characterized by high-density commercial office space and limited residential development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (California) — Mello-Roos Community Facilities Act Special Parcel Tax Assessment: Levies an annual direct, non-ad valorem special tax directly on the parcel's secured property tax bill to fund designated community infrastructure (e.g., roads, sewer facilities, school facilities, emergency services) and repay municipal debt bonds. State (California) — California Homeowners' Property Tax Exemption: Reduces the taxable assessed value of the qualifying owner-occupied principal residence by $7,000 against the county assessment roll, generating a direct tax savings of approximately $70 annually (computed as $7,000 × 1% base rate). State (California) — California Proposition 13 Ad Valorem Real Property Tax: Establishes a base ad valorem tax rate capped at 1.0% of assessed value plus voter-approved local indebtedness and direct assessments (typically resulting in an effective tax rate of 1.1% to 1.25%). County (San Francisco County, California) — Property Assessment Regime: The Office of the Assessor-Recorder is responsible for identifying and assessing all taxable property. Assessments are conducted to ensure fair and accurate valuation for the secured assessment roll, subject to state-mandated uniformity and consistency standards.
The area is a 'Walker's Paradise' with a 100/100 Walk Score and immediate access to major transit hubs in downtown San Francisco.
The ZIP is located in the heart of the Financial District, providing proximity to the Embarcadero waterfront, Ferry Building, and various urban plazas.
The rental market is dominated by high-end commercial-adjacent units; vacancy pressure is influenced by the office-centric nature of the district.
The area is the primary hub for finance, banking, and professional services in San Francisco, hosting numerous corporate headquarters.
The area is served by BART, MUNI Metro, and cable car lines, acting as the central transit node for the city.
Development is primarily focused on commercial office and mixed-use high-rise projects within the Financial District.
The San Francisco County Assessor's office manages assessments for all parcels within the city and county.
Parcels are subject to standard city and county tax levies, including various Mello-Roos or special assessment districts common in downtown San Francisco.
Property insurance in the area is subject to standard California urban risk factors, including seismic and fire exposure.
Data sourced from ZCTA-level estimates; specific ACS vintage not provided by source.
- Children's Fairyland4.57.9 mi
- Dave & Buster's Daly City4.19.1 mi
- Round1 Bowling & Arcade - San Francisco3.56.1 mi
- K1 Speed San Francisco4.310.5 mi
- Round1 Bowling & Arcade - Hayward4.118.9 mi
- Chase Center4.71.8 mi
- Oracle Park4.71.1 mi
- Palace of Fine Arts4.82.7 mi
- Moscone Center4.50.5 mi
- Exploratorium4.70.8 mi
- PIER 394.61.3 mi
- Oracle Park4.71.1 mi
- Golden Gate Bridge4.84.6 mi
- Muir Woods National Monument4.812.2 mi
- The Painted Ladies4.42 mi
- PIER 394.61.3 mi
- Ferry Building4.60.6 mi
- Golden Gate Bridge4.84.6 mi
- The Painted Ladies4.42 mi
- California Academy of Sciences4.63.8 mi
- Muir Woods National Monument4.812.2 mi
- Golden Gate Park4.84.7 mi
- Mission Dolores Park4.72.5 mi
- Twin Peaks4.73.6 mi
- Union Square4.40.4 mi
- PIER 394.61.3 mi
- Jack London Square4.56.8 mi
- St. Francis Yacht Club4.72.7 mi
- Lake Chabot Marina & Café4.517 mi
- Pier 404.51.1 mi
- The Olympic Club4.77.6 mi
- Presidio Golf Course4.53.1 mi
- Corica Park Golf Course4.29.9 mi
- TPC Harding Park4.36.8 mi
- Tilden Park Golf Course4.111.1 mi
- PIER 394.61.3 mi
- Ferry Building4.60.6 mi
- Stonestown Galleria4.36 mi
- Serramonte Center4.29 mi
- H Mart San Francisco4.56.6 mi
- San Francisco International Airport4.311.9 mi
- Oakland San Francisco Bay Airport4.211.1 mi
- Seaplane Adventures4.88.6 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Major pedestrian and transit corridor along the San Francisco Bay.
Historic landmark and food hall serving as a major city anchor.
Key-figure check: median price diverges 15.6% from the nearest retained anchor (published ten-year series (2025)) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Research outlier held out — this pass returned a median of $800,000 (15.6% off the retained reading), contradicting every independent anchor; the prior reading stands pending corroboration. Validation: the flagged $800,000 (-15.6% vs the published ten-year series (2025)) could not be independently corroborated and was reverted to the prior cycle value pending review; the case is under review in the Command Center.