San Francisco needs 49 inquiries per lease, nearly double the U.S. average
a16z · x · 2026-07-23
a16z published a data-backed look at the SF rental market using EliseAI leasing-conversation data.
- San Francisco leads the chart with 49 inquiries per signed lease, versus a 27 inquiry national average.
- Los Angeles (44) and New York (42) are also far above average.
- Austin sits at the low end with 16 inquiries, suggesting much less tenant competition.
The chart is framed as evidence that renting remains a high-friction, high-stress transaction, and that leasing conversations can reveal where demand is most intense.
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