South Beach is a condo market: 99.6% of the last year's closings were condominiums (MLS). Over the last 30 days, condos closed at a $1.55M median, and the trailing-six-month condo median sits at $1.27M, up 6.3% from a year ago. Unless otherwise noted, all figures here are MLS data.
People searching "South Beach apartments" are almost always looking at condominiums for sale, because that is nearly the entire market here. Over the trailing 12 months, 229 of 230 closings were condos, with a single duplex making up the rest. This is a stack of modern high-rise and mid-rise towers along the Embarcadero waterfront, not a street of houses, so the right way to read the data is one property type deep rather than a blended neighborhood median. The headline over the last 30 days is a $1.55M median across 15 closings, running above the trailing-six-month condo median of $1.27M, a seasonal lift as the fall selling cycle plays out. The number that matters more for a buyer or seller acting this month is the per-type picture below, where the spread from a studio to a high-floor two-bedroom is wide enough to make any single average useless.
South Beach by the numbers
The monthly line is choppy, which is normal for a neighborhood this small. Median closes ran $1.68M in May 2026, dropped to $1.04M in June, then climbed back through $1.41M in July and $1.52M in August before settling at $1.21M in September (MLS). The October reading jumps to $4.13M, but that is only two closings, so treat the end of the chart as a small-sample spike rather than a trend. Over a steadier six-month base, the condo median holds near $1.27M at $1,214 per square foot, with a median of 23 days on market (MLS).
What a condo-only market does to price
Price in South Beach tracks bedroom count and floor level far more than it tracks the calendar. Over the trailing 12 months, studios closed at a $402K median, one-bedrooms at $877,500, two-bedrooms at $1.67M, and three-bedrooms at $3.67M (MLS). That is the real story of the neighborhood: a building can hold a sub-$900K one-bedroom and a multimillion-dollar three-bedroom on the same elevator bank, so the "median apartment" depends entirely on which unit you mean. The spread is the part I keep returning to when a client asks what their money buys here. Roughly 35% of the last year's closings landed under $1M, 47% between $1M and $2M, and about 18% above $2M, which keeps most of South Beach below the $1.75M citywide median (MLS) even though its top end reaches past $5M.
The six-month comp set shows how much floor level and view move the number inside a single building. At 425 1st Street, a 20th-floor two-bedroom of 1,278 square feet closed at $1,739,000 in nine days, while a 44th-floor two-bedroom of 1,309 square feet with bay and bridge views closed at $2,800,000, more than $500K over its $2,295,000 ask, also in nine days (MLS). Lower in the same tower, a 14th-floor two-bedroom traded at $1,350,000. Over at 401 Harrison Street, a water-view two-bedroom closed at $1,550,000 in zero days on market, and a renovated corner two-bedroom at 501 Beale Street with water views took $1,475,000 after about four months. Same property type, same bedroom count, prices that range by a factor of two: that is view tier and floor level doing the work, not the month of sale.
Block by block, where South Beach trades
Turnover concentrates in a handful of towers. The 300 block of Main Street logged 22 closings over the trailing year at a $1.7M median and $1,430 per square foot, the busiest address in the neighborhood (MLS). The 400 block of Folsom Street ran higher, with 18 closings at a $3.61M median and $1,877 per square foot. The waterfront residences on Steuart Lane command the top per-square-foot prices, where seven closings carried a $2.995M median at $2,027 per square foot. At the other end, the 400 block of Beale Street and the 500 block of 4th Street posted medians near $670K and $687K, where smaller one-bedrooms and studios cluster.
South Beach also trades off the open market. Over 2026, 13 South Beach sales closed off-market at a $1.58M median, part of 103 such sales tracked in the neighborhood since 2018 (MLS). Off-market volume ran heaviest in 2021 and 2022 and has settled into a steadier low-double-digit pace since, so a buyer who only watches public listings is seeing most, but not all, of what moves here.
What's driving the numbers
Demand in South Beach rests on location and commute rather than square footage. The corridor earns a 100 Transit Score, a 90 Walk Score, and a 73 Bike Score, with the N Judah Muni Metro line stopping at the Embarcadero and the Salesforce Transit Center bays a short walk inland (Walk Score). The resident base is high-earning and young: median household income in the South Beach census area is $150,063, median age is 26.3, and 88.2% of adults hold a college degree, per the 2023 American Community Survey (US Census). That profile, concentrated in a small stock of newer towers with little room to add supply, is what keeps per-square-foot pricing firm even when the monthly median bounces around.
The waterfront setting carries its own small premium and its own quirks. South Beach runs about 1.3 degrees Fahrenheit warmer than the citywide average and sees less fog than the city as a whole, per National Weather Service station data, which is part of why the Embarcadero promenade, Brannan Street Wharf, and South Beach Park stay in use year-round (OpenStreetMap). Dining and everyday errands sit within a few hundred meters: Delancey Street Restaurant, Town's End Restaurant & Bakery, and the 21st Amendment Brewery are all walkable (OpenStreetMap). Buyers here are paying for that walk-everywhere, water-adjacent life, not for a yard.
What to consider before buying in South Beach
This is a place I would tell you to go in with clear eyes on a few structural tradeoffs, because they are baked into the neighborhood rather than fixable deal by deal.
It is condos and HOA dues, with no house option
With 99.6% of the last year's closings being condominiums (MLS), there is effectively no detached-house path in South Beach. That means HOA dues, building rules, and shared-amenity costs are part of every purchase, and in full-service towers they add a real line to your monthly carrying cost. Confirm the current dues and reserve health on any specific building before you fall for the view.
You pay for access, not space
At a $1,214 median price per square foot over the last six months (MLS), South Beach charges a premium for compact, well-located space. A one-bedroom runs an $877,500 median (MLS), and much of that dollar is buying the commute, the waterfront, and the walkability rather than interior room. This works best if those are the things you actually use.
View and floor level drive price more than finishes
As the comps show, two units with the same bedroom count in the same building can trade a factor of two apart on floor level and view alone (MLS). That cuts both ways: a mid-floor, city-view unit can be a genuine value, while a high-floor water view commands every dollar of its premium and often sells in single-digit days. Know which one you are buying and price it accordingly.
How I would approach an offer here
Start with the in-building comps, not the neighborhood median, because the building and the specific line matter more than the South Beach average. Over the last six months, well-priced view units at 425 1st Street and 401 Harrison Street sold in zero to nine days, while weaker-view or longer-marketed units sat for a hundred days or more (MLS). If you are the buyer on a high-floor water-view unit, expect competition and be ready to move; if you are looking at a mid-floor city view or a unit that needs updating, there is room to negotiate on both price and terms. Financing strength, whether the unit is vacant, and parking all swing the final number as much as the list price does.
What is the average rent for an apartment in San Francisco?
As of the 2023 American Community Survey, median gross rent in the South Beach census area was $2,884 a month (US Census). That is the sourced local figure; citywide averages run higher and vary a lot by unit size and building age. On the ownership side, which I track more closely, South Beach one-bedroom condos closed at an $877,500 median over the trailing 12 months ending October 2026 (MLS), the buy-versus-rent alternative many renters in these towers end up weighing.
What is the income limit for affordable housing in San Francisco?
San Francisco's below-market-rate income limits are reset each year by the city and scale with household size, so there is no single 2026 figure to quote. For South Beach context: over the trailing 12 months ending October 2026, studios closed at a $402K median and about 35% of all closings landed under $1M (MLS). Check the city's current income tables for the program and household size you are considering.
What's the cheapest apartment in San Francisco?
In South Beach, over the trailing 12 months ending October 2026, the most affordable for-sale condos cluster in the studio tier at a $402K median, with one-bedrooms at an $877,500 median (MLS). The lowest arm's-length closings over the last six months dipped into the mid-$400Ks, typically the smallest studios and one-bedrooms (MLS). Citywide, the cheapest inventory sits in outer districts, but within South Beach itself the entry point starts in the low-to-mid six figures.
Why is rent in SF so high right now?
As of the 2023 American Community Survey, the South Beach area posts a $150,063 median household income, with 88.2% of adults holding a college degree (US Census). A 100 Transit Score, a 90 Walk Score, and a small stock of newer towers create steady demand against thin supply. On the for-sale side, that same pressure reads as a $1,214 median price per square foot over the last six months (MLS).
Is it cheaper to live in LA or SF?
The San Francisco side is the part I can price directly: over the six months ending October 2026, South Beach condos closed at a $1.27M median, about $1,214 per square foot (MLS). A true Los Angeles comparison depends on the specific neighborhood and property type, so it is worth weighing like-for-like units on both sides rather than leaning on a citywide average that hides the range.
How much rent can I afford if I make $10,000 a month?
As of the 2023 American Community Survey, South Beach's median gross rent was $2,884 a month (US Census), so a $10,000 monthly income covers a typical local rent with room to spare. Budgeting guidelines commonly suggest keeping housing to roughly a third of gross income. On the ownership path, that same budget points toward the one-bedroom segment, which closed at an $877,500 median over the trailing 12 months ending October 2026 (MLS).
Talk to me about South Beach
If you would like the comp set broken down by your specific building, floor level, and view, I can pull the in-building data we used here and walk you through what a realistic offer looks like. I'm Chris Chour, founder and broker of EON Real Estate, and most of my work is single-family and condo transactions in San Francisco's luxury neighborhoods. When you are ready to look at South Beach, reach out through our contact page. For related reading, see our guide to what seller closing costs cover in San Francisco, our spotlight on the Four Seasons Private Residences at 706 Mission, and our San Francisco home styles guide.
Last updated: October 9, 2026
