Rents in San Francisco's market rate buildings have staged an amazing rally in 2026. Trade-outs of 30 and 40% are not uncommon, city-wide. So I put together a map of asking rents and a grid of what's current available for lease. What do I notice? The map tells the entire story: the dataset is projects built in the last 15 years that have their own websites (self-selecting for larger buildings), where rents can be reset to market with no annual limit. And those projects are clustered in a few neighborhoods with the vast majority of the city left out. This is what I mean when I say that the development pipeline matters a lot less to rents in (Nob Hill, the Marina, Pac Heights, the Richmond, etc) than SOMA, DogPatch, Mission Bay and downtown. Those areas also had much more inventory to burn through during the recent boom, which meant rent increases there lagged the neighborhoods. Rent-wise, these levels really aren't any different than what we lease renovated rent control stock for. Are some owners getting huge rents in certain luxury buildings? Of course - this survey is what's out there right now. Also interesting to note the relative jump in rents from 1-beds to 2-beds, compared to studios to 1-beds. Lots of 2-beds out there, but nothing cheap. Tech note: Data scraped off the public web (not Zillow) by GrokBot, visualized with ChatGPT, which does a nice job without much instruction.