Wealthy AI workers send San Francisco house prices soaring

San Francisco's housing market is experiencing a dramatic surge, driven by the wealth generated by the artificial intelligence industry. In March, the city regained its title as the most expensive in the US, with median house prices rising 19% year-over-year. By May 2026, the median sale price hit a record $1.76 million, far exceeding the national average of nearly $400,000. The trend is attributed to high salaries, bonuses, and especially stock options at AI giants like OpenAI and Anthropic, which have allowed employees to cash in on shares worth billions. A notable example of this AI-fueled market is a three-bedroom apartment in the Duboce Triangle neighborhood listed for almost $3 million, with the seller willing to accept shares in OpenAI or Anthropic instead of cash. A young OpenAI employee viewing the property expressed interest in the stock transfer option. The influx of AI money has reversed the downturn San Francisco saw during the Covid pandemic, with economists and real estate agents pointing to the concentration of AI wealth as the primary driver of the soaring prices.