ZIP Code Market Report
94104 — San Francisco, CA
Data through February 2026 · Updated monthly
Avg Home Value
$1,086,408
▼ 1.5% year-over-year
Month-over-Month
-1.3%
▼ 1.3%
Single Family
--
Condo / Co-op
$1,122,132
The average home value in the 94104 ZIP code (San Francisco, California) is $1,086,408 as of February 2026. Home prices are declining, down 1.5% compared to last year.
The market in 94104 has a $949,480 spread between bottom-tier homes at $658,837 and top-tier homes at $1,608,317. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 94104 ZIP code will decrease 1.4% over the next 12 months, bringing the projected average to approximately $1,071,198. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Alameda County market area in California. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Alameda County report.
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Market Snapshot
94104 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $1,099,138 | $1,100,650 | $1,086,408 | ▼ 1.2% |
Home Values
94104 Home Value Trend
Historical home values for ZIP code 94104. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
Property Types
Home Values by Property Type in 94104
How different property types compare in this ZIP code.
All Homes
$1,086,408
Condo / Co-op
$1,122,132
Bottom Tier
$658,837
Top Tier
$1,608,317
Forecast
12-Month Home Value Forecast for 94104
Zillow projects home values in 94104 will decrease 1.4% over the next year, reaching approximately $1,071,198.
Current Value
$1,086,408
Projected Change
-1.4%
▼ 1.4%
Projected Value
$1,071,198
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 94104 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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