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Guide

Buying in San Francisco: Condos, TICs & Neighborhoods

By Karla I. Vasquez, REALTOR® · Keller Williams Realty Danville · Reviewed October 2026

Quick answer

In San Francisco you'll mainly choose between a condo, which is its own legal parcel with its own tax bill and usually its own mortgage, and a TIC (tenancy in common), where you buy a percentage share of a whole building, often with the right to occupy one unit. TICs can cost less up front, but they come with shared obligations, a shared property tax bill and specialized financing. Your neighborhood choice then shapes the housing styles you'll see, from flats in Victorian buildings to newer high-rise condos.

Condo vs. TIC: what's the difference?

Condos

A condo owner holds title to their unit plus a share of common areas, and belongs to a homeowners association (HOA). Before you buy, California Civil Code section 4525 requires the seller to provide association documents such as governing documents and financial information. Read the budget, reserves, meeting minutes and any planned special assessments.

TICs

With a TIC, several co-owners share title to one parcel. According to the San Francisco Assessor-Recorder:

  • The whole parcel generally gets one property tax bill, and all co-owners are responsible for making sure it's paid in full. Co-owners usually set up their own arrangement to split it.
  • When one share sells, only that share is reassessed to market value; the others keep their Prop 13 increases of generally up to 2% per year.
  • You can request an "Individual Assessed Value for TIC Units" breakdown as a courtesy. The request is due by March 30 to be reflected in the July notice, and it does not create separate tax bills.

The Assessor also flags financing: one co-owner's late payments can affect the others. Many TIC buyers use fractional loans from a limited group of lenders, so talk to a lender who knows TICs before you shop. Ask for the TIC agreement early and have it reviewed by an attorney.

Can a TIC convert to a condo?

Sometimes. Condo conversion in San Francisco is handled by San Francisco Public Works' Bureau of Street-Use and Mapping. Public Works reported that it resumed accepting and processing applications under its Expedited Conversion Program starting April 22, 2024, after a lawsuit was resolved. Eligibility depends on the building, owner occupancy and tenant history under the Public Works Code, and rules can change. Never assume a TIC will convert; verify the building's status with Public Works and an attorney.

Neighborhoods and housing types

San Francisco neighborhoods differ more by housing style than by anything else. A few broad patterns:

  • Sunset and Richmond districts (west side): many single-family homes and smaller multi-unit buildings, near Golden Gate Park and Ocean Beach.
  • Noe Valley, Bernal Heights, Glen Park: Victorian and Edwardian homes, flats and some single-family houses on hillside streets.
  • Mission, Haight, Western Addition, Lower Pacific Heights: classic two- to six-unit buildings, which is where many TICs and converted condos are found.
  • SoMa, Mission Bay, Rincon Hill: newer mid-rise and high-rise condo buildings, often with amenities and higher HOA dues, close to Caltrain and downtown.

Visit at different times of day, check Muni and BART access, parking rules and street noise, and compare HOA dues alongside price.

Costs and programs to know

  • Transfer tax: San Francisco has its own tiered real property transfer tax, which is customarily a seller cost there but can be negotiated. Rates are set by the City; see the City's transfer tax page for current figures.
  • Down payment help: San Francisco's Mayor's Office of Housing and Community Development offers the Downpayment Assistance Loan Program (DALP), up to $500,000 for eligible first-time buyers, awarded by lottery. The 2025 application period closed June 2, 2025, so check sf.gov for the next round.

Karla's tips

  • Read the building, not just the unit. With my KCK Construction & Remodeling background, I look at roofs, foundations, seismic retrofits, decks, plumbing risers and shared systems. In a TIC or small HOA, you share those repair bills.
  • Ask for the reserve study and minutes. They tell you what repairs the owners already know are coming.
  • Know who the co-owners are in a TIC and how disputes are handled under the TIC agreement.
  • Get TIC lending pre-approval first. It's a smaller lender pool, so start early.
  • Hablo español. I help buyers in San Francisco in English and Spanish, from first showing to closing. Call (510) 677-8695.

En español: lo básico

En San Francisco, un condominio es una propiedad independiente con su propia factura de impuestos, mientras que un TIC (tenencia en común) es la compra de un porcentaje de todo un edificio con un solo recibo de impuestos compartido. Al vender una parte de un TIC, solo esa parte se revalúa, según el Asesor de San Francisco. La conversión de TIC a condominio depende de las reglas de Obras Públicas, así que nunca la dé por segura. Karla atiende en español y revisa el edificio completo con su experiencia en construcción.

Sources

General information only, not legal, tax or financial advice. Rules, programs and fees change; confirm with the agency, your lender, escrow, tax professional or an attorney. Karla I. Vasquez is a REALTOR® and Registered LDA, not an attorney.