Hillsborough, CA—94010
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hillsborough, CA
As of Oct '25, the median home price in Hillsborough, CA is $3,200,000, with a year-over-year change of 2.7%. This indicates that home prices in Hillsborough, CA are increasing. According to Zillow, the 1-year price projection is -1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $3,200,000 | 2.7% |
| Single Family | $3,381,000 | 2.7% |
| Condos | $1,077,000 | -3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $795,000 | -1.9% |
2 Bed | $1,606,000 | 4.4% |
3 Bed | $2,685,000 | 3.2% |
4 Bed | $3,769,000 | 2.3% |
| 5 Bed | $5,267,000 | 1.0% |
% of Housing Stock
Rental Trends — Hillsborough, CA
As of July '25, Rentcast reports the average rent in Hillsborough, CA is $4,250, with a year-over-year rent change of 7.1%. Per bedroom, the median rent as of July '25 in Hillsborough, CA is studios: $2,470, 1-bedrooms: $3,130, 2-bedrooms: $4,790, 3-bedrooms: $6,210, 4-bedrooms: $8,030. The most common rental property sizes in Hillsborough, CA are 1-bedroom and 2-bedroom, accounting for 47.5% and 22.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,630 | $4,250 |
| Studio Rent | $2,290 | $2,470 |
| 1 Bed Rent | $3,000 | $3,130 |
| 2 Bed Rent | $4,770 | $4,790 |
| 3 Bed Rent | $5,600 | $6,210 |
| 4 Bed Rent | $8,000 | $8,030 |
% of Rental Stock
Property Listings — Hillsborough, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Hillsborough, CA is 36. This is a decrease of -8.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $4,330,000 | -19.0% |
Listing Count | 83 | 25.0% |
| Listings as % of Homes | 0.2% | 25.0% |
Days on Market | 36 | -8.0% |
Demographics — Hillsborough, CA
As of the latest ACS Survey released in 2023, Hillsborough, CA has a population of 42,800, which has remained stable by 0.1% over the past 5 years. Hillsborough, CA is a moderately popular place for families, as children make up 23.4% of the population. The area has a highly educated workforce, with 69.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,800 | 0.1% |
% Under 18 | 23.4% | -2.1% |
% Seniors | 16.8% | 1.8% |
% WFH | 26.2% | 244.7% |
% w/ College Degree | 69.2% | 1.5% |
As of the latest ACS Survey released in 2023, Hillsborough, CA is a predominantly white area, with 51.9% of the population identifying as white. The white population has shrunk by 7.5% in the last 5 years. The second most common race or ethnicity in Hillsborough, CA is asian, making up 29.8% of the population. Foreign-born residents account for 29.0% of the population in Hillsborough, CA, and this percentage has decreased by 0.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 51.9% | -7.5% |
% Black | 0.8% | -42.9% |
% Hispanic | 11.2% | 12.0% |
% Asian | 29.8% | 10.8% |
% Foreign Born | 29.0% | -0.3% |
Mortgage and Risk — Hillsborough, CA
According to HUD data as of 2023, there were 387 mortgage originations in Hillsborough, CA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 44.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Hillsborough, CA. Investor activity is low, as 5.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 387 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Hillsborough, CA
As of 2024, the percent of homes in Hillsborough, CA under the Section 8 program is 2.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Hillsborough, CA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 154 |
Total Units Section 8 | 154 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$290 | $3,000 | $2,710 |
| 2 Bedroom | -$1,530 | $4,770 | $3,240 |
| 3 Bedroom | -$1,560 | $5,600 | $4,040 |
| 4 Bedroom | -$3,700 | $8,000 | $4,300 |
Affordability — Hillsborough, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 16.1 |
| Median Home Price | $3,200,000 |
| Median Household Income | $192,000 |