Guide to moving to San Francisco, California

This article is for educational purposes only. JPMorgan Chase Bank, N.A., does not offer “piggyback” mortgages. Any information described in this article may vary by lender.

Quick insights

• San Francisco’s roots as a coastal gold rush town have given way to a vibrant, inclusive city with exciting events, a competitive job market, extensive public transit and a substantial cultural cache.
• The cost of living and housing in San Francisco is above the national average, making it essential to prepare financially and research housing programs that may help offset costs.cost-of-living-in-San-Francisco-2025
• Homes in the area may require historic preservation or seismic retrofitting to help them stand the test of time.

Regardless of where you currently live, moving to San Francisco is likely to be an endeavor. It’s a city that’s like no other, with much to offer those who choose to live there, and several specific considerations for potential homebuyers. In this article, we’ll summarize its unique offerings and important things to know before moving to San Francisco.

About San Francisco

Originally a naval base and port town, the city saw its first population boom in 1849 during the Californian gold rush. During the rush, anxious prospectors sailed into the bay and left behind a mass of ships as they hustled ashore. This period is referenced in the city’s NFL team name, "the 49ers.”

Today, a new type of ‘’gold rush” continues in San Francisco, with the city remaining a destination for ambitious people, especially those involved in the arts, academics and technology. Its majestic natural beauty and innovative air has inspired generations of residents and visitors, with famed writers, entrepreneurs, scientists and filmmakers ranking among the city’s notable residents.

Living in San Francisco, California

So, what’s it like to live in San Francisco? Life in SF (as the locals call it, not “Frisco”) is characterized by the city’s vibrant cultural offerings, access to incredible parks, a dominating tech scene, foggy weather and ocean breezes.

Get to know the San Francisco Bay area

The city of San Francisco is located on the west side of the San Francisco Bay beside the expansive Pacific Ocean. SF has two iconic bridges to the other nearby land masses in the Bay: The Bay Bridge, which connects SF to the East Bay (including Berkeley and Oakland), and the red-colored Golden Gate Bridge, which allows for northern travel to the Golden Gate National Recreation Area. Fault lines cut around the Bay area, resulting in a range of seismic activity throughout the year.

Cultural supply and events

SF has a dynamic food scene to satisfy even the most sophisticated palettes, with everything from simple-but-intriguing food trucks to high-end coastal dining. Its oceanic location provides fresh fish for a high number of seafood-focused restaurants, making crab cakes, sushi, clam chowder and steamed Dungeness crab popular menu items. San Francisco’s shoreline locale also encouraged early exchange with Asia, resulting in what is now America’s oldest Chinatown area.

The city is host to many annual events, including the Chinese New Year Parade, Carnaval San Francisco and the San Francisco Marathon. San Francisco is renowned for having a broad LGBTQ presence, with the city’s annual Pride celebrations typically drawing more than one million people in attendance.san-francisco-pride-about-2024 In terms of art-focused events, the city hosts the Fillmore Jazz Festival, SF Sketchfest (for comedians) and the San Francisco International Film Fest.

Activities in and around the city

If you’re moving to San Francisco, you may want to get to know its many parks, museums and sporting activities:

• Golden Gate Park: This large central park, which extends from the storied Haight/Ashbury neighborhood to the Pacific Ocean, is a destination for residents of all ages. Highlights include a botanical garden and conservatory, the Japanese Tea Garden, multiple sports fields, the de Young Museum of fine arts and the California Academy of Sciences museum.
• The Presidio: This former U.S. Army base is today a massive green space that traces the Northern edge of the city. Its smooth trails cut through grassy and wooded areas to reveal elevated sightseeing locations, such as the picturesque Inspiration Point.
• The Palace of Fine Arts: Originally built for the 1915 Panama-Pacific International Exposition, this historic structure features Greco-Roman inspired architecture, manicured grounds and an indoor venue hosting a variety of different events.
• Sailing in the Bay: San Francisco has an active sailing community with numerous sailing clubs and organizations. For a look into the city’s past, visitors to the San Francisco Maritime National Historical Park can witness and admire a fleet of historic sailboats.
• Day trips to the north: For those willing to travel beyond the city, Sausalito, the Marin Headlands, Muir Woods and Point Reyes are doable day trips across the Golden Gate bridge.

Getting around SF

Residents of San Francisco have options when it comes to transportation, including commuting by car, on public transit or with a bike.

• Public transit: The San Francisco Municipal Transportation Agency (SFMTA, or “the Muni”) has frequently running inner-city trains, busses and (iconically) cable cars. The BART (Bay Area Rapid Transit) system provides a broader train route for the wider Bay Area, including travel below the Bay itself to connect SF to the East Bay.
• Driving in the city: Though many people in SF own their own cars, the cost of owning a car, finding parking and dealing with traffic are deal-breakers for others. Many residents rely on rideshare programs to get around, including self-driving options.
• Biking culture: The city has substantial infrastructure for bikes, including well-marked lanes and the Bay Wheels bike-sharing program. Bikes with electric assistance are common due to the city’s many steep roads.

San Francisco’s cost of living

The incredible offerings of San Francisco city come at a steep cost of living. San Francisco’s cost of living exceeds the national average by 70%, making it one of the more expensive U.S. cities to live in.cost-of-living-in-San-Francisco-2025cost-of-living-in-San-Francisco-2025 The cost of housing is especially high, at 187% the national average.cost-of-living-in-San-Francisco-2025cost-of-living-in-San-Francisco-2025  If you’re moving from a city that’s closer to national rates, using a cost of living calculator can help you adjust your budgetary expectations for life in SF.

San Francisco’s job market

The job market in San Francisco is very competitive, making networking extra important when looking for work in SF. Tech companies have a dominating presence in the Bay, with many social media and software firms headquartered in the city proper or close by. Biotech is an emerging sector in the area, providing jobs for those with backgrounds in science, technology, medicine and business. Academics are also very important in San Francisco, and many teaching professionals are employed by the public school system, prestigious private schools and higher learning institutions.

Popular neighborhoods in San Francisco

If you’re beginning to look for a home, some of the best neighborhoods in San Francisco to research include:

• Noe Valley: Known for quiet streets and good schools, this neighborhood has a family-friendly atmosphere. Residents benefit from quaint shops, good access to major freeways and public transit stops.
• Castro: The historic center of LGBTQ life in SF, this neighborhood hosts many inclusive community events and festivals. This area features beautifully preserved Victorian homes and the charming Castro Theatre, a historic movie theater from a bygone era.
• Pacific Heights: This elevated neighborhood has panoramic views of the city, prestigious schools and large, luxurious historic homes. Parks like Lafayette and Alta Plaza are hot spots in the neighborhood for outdoor leisure.
• Parkside: This peaceful residential neighborhood has a suburban feel, a variety of dining options and a community garden. Outdoor enthusiasts in this neighborhood and others nearby have good access to Ocean Beach for kiting, surfing and picnicking.
• South of Market (SoMa): This area, along with the neighboring Theater District, has a higher concentration of new construction housing compared to other parts of San Francisco. This location also provides good access to the downtown area and major transportation arteries.

What to consider when buying a home in San Francisco

Beyond the universal considerations for homebuying, there are a few city-specific points to keep in mind when shopping for a home in San Francisco.

Seismic retrofitting

As previously touched on, seismic activity in San Francisco is a daily occurrence. While many earthquakes are so mild they pass unnoticed, others are more serious and can cause structural damage. Building codes and home insurance policies in SF reflect this reality, and seismic proofing or retrofitting can add to the cost of renovations.

Historic preservation

Part of San Francisco’s charm comes from its unique architecture, particularly its many Victorian and Edwardian-style homes. Some homes on the market may be subject to rules requiring the preservation of historic faces, which can add to the cost of buying a home in San Francisco.

Financial preparation and mortgages

Preparing for a potentially large down payment, monitoring your credit score and getting preapproved for a mortgage can help you act quickly in SF’s competitive market. Given the high cost of living in San Francisco, it may be beneficial to explore alternatives to a standard 20% down payment and 30-year mortgage. These can include (but are not limited to):

• Low down payment loans: Making a down payment of less than 20% may be possible with the stipulation of paying for Private Mortgage Insurance (PMI) on conventional loans. This can help you move on a property without putting down more money.
• “Piggyback” loans: Also called combination loans, these loans can be structured to reduce your down payment and avoid PMI. They often follow an 80/10/10 structure, wherein the first loan is for 80% of the home’s value, the second is for 10% and the remaining cost of the home (10%) is the price of the down payment. As a note, Chase does not offer this loan product.
• Adjustable-rate mortgages: These mortgages often start with lower payments and increase over time, which can be helpful for those anticipating income increases or planning to sell or refinance within a few years.

Resources for first-time home buyers in San Francisco

If you’re a first-time buyer, you may also qualify for certain programs offered in the city:

• The Below Market Rate Program (BMR): This program offers select homes for below-market-rate prices. These homes (which can also be purchased with the help of downpayment assistance programs) must be resold at below-market-rate prices.
• The Downpayment Assistance Loan Program (DALP): This program provides loans to help low- to middle-income first-time homebuyers bid on certain properties listed on the open market, with the ability to sell at market prices down the road. These loans are offered through an annual lottery; however, SF’s first responders and Unified School District educators have their own designated funding for DALP loans.
• The City Second Loan Program (CSLP): This program also provides up to $375,000 in down payment loans with the ability to sell at market prices, however the city has the option of selecting a buyer who can match the first offer.

Pros and cons of living in San Francisco

To recap, here’s a quick overview of the advantages and disadvantages of moving to San Francisco.

Pros of living in San Francisco

• Many outdoor spaces and a beautiful landscape on the edge of the Pacific
• Vibrant, inclusive atmosphere and many cultural events
• Robust job market for tech professionals
• Extensive and reliable public transit system
• Substantial historic and cultural cache

Cons of living in San Francisco

• High cost of living, especially for housing
• Heavy traffic and difficulties parking for drivers
• Competitive job market that emphasizes networking
• Frequent earthquakes that range in magnitude
• Restrictions on building renovations

Bottom line

San Francisco is an incredible place to live or visit, with its share of advantages and drawbacks for homebuyers. After you’ve weighed the pros and cons of living in San Francisco and are determined to buy a home, keep an eye on inventory levels, mortgage rate changes and other events that may affect your purchase. Fluctuations—both locally and on a macro level—can make a big difference in terms of your experience as a homebuyer. For personal assistance, you can always enlist the help of a Chase Home Lending Advisor in SF.