ZIP Code Market Report
94123 — San Francisco, CA
Data through February 2026 · Updated monthly
Avg Home Value
$2,212,368
▲ 8.4% year-over-year
Month-over-Month
+0.5%
▲ 0.5%
Single Family
$3,769,222
Condo / Co-op
$1,566,053
The average home value in the 94123 ZIP code (San Francisco, California) is $2,212,368 as of February 2026. Home prices are rising, up 8.4% compared to last year.
A 3-bedroom home in 94123 is valued at $2,728,120. 1-bedroom units start around $925,309. Single-family homes average $3,769,222, while condos average $1,566,053.
The market in 94123 has a $3,157,728 spread between bottom-tier homes at $1,219,206 and top-tier homes at $4,376,934. 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 94123 ZIP code will increase 0.5% over the next 12 months, bringing the projected average to approximately $2,223,429. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the San Francisco County market area in California. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full San Francisco County report.
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Market Snapshot
94123 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 | $2,167,020 | $2,201,323 | $2,212,368 | ▲ 2.1% |
| Single Family Value | $3,626,145 | $3,701,402 | $3,769,222 | ▲ 3.9% |
Home Values
94123 Home Value Trend
Historical home values for ZIP code 94123. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 94123
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 1 Bedroom | $925,309 |
| 2 Bedrooms | $1,624,327 |
| 3 Bedrooms | $2,728,120 |
| 4 Bedrooms | $4,393,088 |
Property Types
Home Values by Property Type in 94123
How different property types compare in this ZIP code.
All Homes
$2,212,368
Single Family
$3,769,222
Condo / Co-op
$1,566,053
Bottom Tier
$1,219,206
Top Tier
$4,376,934
Forecast
12-Month Home Value Forecast for 94123
Zillow projects home values in 94123 will increase 0.5% over the next year, reaching approximately $2,223,429.
Current Value
$2,212,368
Projected Change
+0.5%
▲ 0.5%
Projected Value
$2,223,429
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 94123 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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