Skip to main content S.F. loses status as most expensive U.S. office market, dropping below Manhattan after five years on top FacebookTwitterEmail 1of2 A single car drives west on the San Francisco Oakland Bay Bridge on April 01, 2020 in San Francisco, California. The city has dropped to second-most expensive U.S. office market after five years on top.Justin Sullivan / Getty ImagesShow MoreShow Less 2of2 The Manhattan skyline is seen at sunrise from the 86th floor observatory of the Empire State Building on April 3, 2021.ANGELA WEISS / AFP via Getty ImagesShow MoreShow Less San Francisco has lost its status as the country’s most expensive office rental market, with asking rents falling below Manhattan for the first time in five years.