$1 million in San Francisco real estate (2015): $1.4 million now
$1.4 million
Updated May 1, 2026 · Redfin
$1 million in San Francisco real estate in 2015 would be worth $1,448,304.34 today — a 45% change, about 3% a year over 11 years. Figures track the typical home price per m² (Redfin index); they exclude rent, taxes and costs.
Run your own experiment
The investment curve
The worst drawdown: the position fell as much as 24% from its peak (2023/01). The chart makes the multiple look easy; holding through that drop is what almost no one does.
What if you'd started in another year?
The same $1 million, for every entry year:
| Entry year | Value today | Multiple |
|---|---|---|
| 2012 | $2,389,049 | 2.4× |
| 2013 | $2,058,328 | 2.1× |
| 2014 | $1,555,053 | 1.6× |
| 2015 | $1,448,304 | 1.4× |
| 2016 | $1,385,807 | 1.4× |
| 2017 | $1,297,811 | 1.3× |
| 2018 | $1,206,402 | 1.2× |
| 2019 | $1,196,680 | 1.2× |
| 2020 | $1,172,381 | 1.2× |
| 2021 | $1,177,742 | 1.2× |
| 2022 | $1,091,608 | 1.1× |
| 2023 | $1,317,348 | 1.3× |
| 2024 | $1,228,749 | 1.2× |
| 2025 | $1,242,352 | 1.2× |
Against the benchmarks
| The same money in | Value today |
|---|---|
| San Francisco | $1,448,304 |
| Inflation only (U.S. CPI) | $1,428,935 |
| S&P 500 | $3,667,262 |
The S&P 500 figure is a price index, in U.S. dollars, with no dividends reinvested. The inflation line is the same money doing nothing but keeping its purchasing power.
Typical home price per m² (Redfin). Excludes rent received, closing costs, property taxes, maintenance and vacancy — the value of the property itself, not the investor's total return.
Frequently asked questions
Did San Francisco real estate beat inflation?
After adjusting for U.S. consumer prices (CPI), the result is a 1% change in real terms — what's left once the dollar's loss of purchasing power is removed.
What if I'd invested in a different year?
The result changes a lot with the entry point. Our series starts in 2012; the year-by-year table on this page shows the outcome for every starting year.
What was the worst drawdown?
The largest peak-to-trough drop was 24%, reached around Jan/2023. Holding through that decline was the cost of the full result above.
Keep exploring
Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.