Millbrae, CA—94030
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Millbrae, CA
As of Oct '25, the median home price in Millbrae, CA is $1,966,000, with a year-over-year change of 1.7%. This indicates that home prices in Millbrae, CA are increasing. According to Zillow, the 1-year price projection is -1.2%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,966,000 | 1.7% |
| Single Family | $2,064,000 | 2.7% |
| Condos | $933,000 | -3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $696,000 | -5.3% |
2 Bed | $1,179,000 | -2.2% |
3 Bed | $1,948,000 | 2.5% |
4 Bed | $2,375,000 | 2.9% |
| 5 Bed | $2,621,000 | 1.5% |
% of Housing Stock
Rental Trends — Millbrae, CA
As of July '25, Rentcast reports the average rent in Millbrae, CA is $3,990, with a year-over-year rent change of 1.3%. Per bedroom, the median rent as of July '25 in Millbrae, CA is 1-bedrooms: $2,360, 2-bedrooms: $3,710, 3-bedrooms: $5,750. The most common rental property sizes in Millbrae, CA are 2-bedroom and 1-bedroom, accounting for 45.2% and 24.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,380 | $3,990 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,500 | $2,360 |
| 2 Bed Rent | $3,380 | $3,710 |
| 3 Bed Rent | $5,500 | $5,750 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Millbrae, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Millbrae, CA is 46. This is a increase of 67.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $998,000 | -36.0% |
Listing Count | 36 | 38.0% |
| Listings as % of Homes | 0.2% | 38.0% |
Days on Market | 46 | 67.0% |
Demographics — Millbrae, CA
As of the latest ACS Survey released in 2023, Millbrae, CA has a population of 22,600, which has remained stable by -0.5% over the past 5 years. Millbrae, CA is a moderately popular place for families, as children make up 18.5% of the population. The area has a highly educated workforce, with 50.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,600 | -0.5% |
% Under 18 | 18.5% | -4.1% |
% Seniors | 21.0% | 11.7% |
% WFH | 19.9% | 290.2% |
% w/ College Degree | 50.5% | -1.9% |
As of the latest ACS Survey released in 2023, Millbrae, CA is a predominantly asian area, with 49.0% of the population identifying as asian. The asian population has grown by 2.3% in the last 5 years. The second most common race or ethnicity in Millbrae, CA is white, making up 31.9% of the population. Foreign-born residents account for 40.4% of the population in Millbrae, CA, and this percentage has increased by 2.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 31.9% | -6.7% |
% Black | 0.5% | -28.6% |
% Hispanic | 12.1% | 1.7% |
% Asian | 49.0% | 2.3% |
% Foreign Born | 40.4% | 2.5% |
Mortgage and Risk — Millbrae, CA
According to HUD data as of 2023, there were 153 mortgage originations in Millbrae, CA, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 45.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Millbrae, CA. Investor activity is low, as 3.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 153 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Millbrae, CA
Millbrae, CA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 116 |
Total Units Section 8 | 116 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $910 | $2,500 | $3,410 |
| 2 Bedroom | $690 | $3,380 | $4,070 |
| 3 Bedroom | -$420 | $5,500 | $5,080 |
| 4 Bedroom | N/A | N/A | $5,400 |
Affordability — Millbrae, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 11.3 |
| Median Home Price | $1,966,000 |
| Median Household Income | $158,000 |