San Mateo, CA—94401
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — San Mateo, CA
As of Oct '25, the median home price in San Mateo, CA is $1,170,000, with a year-over-year change of -1.7%. This indicates that home prices in San Mateo, CA are decreasing. According to Zillow, the 1-year price projection is -1.4%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,170,000 | -1.7% |
| Single Family | $1,352,000 | -1.2% |
| Condos | $665,000 | -8.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $537,000 | -9.3% |
2 Bed | $966,000 | -4.7% |
3 Bed | $1,337,000 | -1.4% |
4 Bed | $1,610,000 | -1.0% |
| 5 Bed | $1,721,000 | -1.7% |
% of Housing Stock
Rental Trends — San Mateo, CA
As of July '25, Rentcast reports the average rent in San Mateo, CA is $3,310, with a year-over-year rent change of 7.8%. Per bedroom, the median rent as of July '25 in San Mateo, CA is studios: $2,250, 1-bedrooms: $2,640, 2-bedrooms: $3,450, 3-bedrooms: $5,310, 4-bedrooms: $6,880. The most common rental property sizes in San Mateo, CA are 2-bedroom and 1-bedroom, accounting for 37.4% and 35.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,850 | $3,310 |
| Studio Rent | $2,180 | $2,250 |
| 1 Bed Rent | $2,600 | $2,640 |
| 2 Bed Rent | $3,600 | $3,450 |
| 3 Bed Rent | $4,950 | $5,310 |
| 4 Bed Rent | $6,500 | $6,880 |
% of Rental Stock
Property Listings — San Mateo, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in San Mateo, CA is 45. This is a increase of 34.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $698,000 | -6.0% |
Listing Count | 66 | -21.0% |
| Listings as % of Homes | 0.3% | -21.0% |
Days on Market | 45 | 34.0% |
Demographics — San Mateo, CA
As of the latest ACS Survey released in 2023, San Mateo, CA has a population of 35,600, which has remained stable by 0.6% over the past 5 years. San Mateo, CA is a moderately popular place for families, as children make up 18.9% of the population. The area has a highly educated workforce, with 45.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,600 | 0.6% |
% Under 18 | 18.9% | -15.2% |
% Seniors | 16.1% | 20.1% |
% WFH | 18.8% | 327.3% |
% w/ College Degree | 45.3% | 7.6% |
As of the latest ACS Survey released in 2023, San Mateo, CA is a predominantly hispanic area, with 37.8% of the population identifying as hispanic. The hispanic population has grown by 3.8% in the last 5 years. The second most common race or ethnicity in San Mateo, CA is white, making up 25.6% of the population. Foreign-born residents account for 42.0% of the population in San Mateo, CA, and this percentage has increased by 9.7% 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 | 25.6% | -20.7% |
% Black | 1.2% | -60.0% |
% Hispanic | 37.8% | 3.8% |
% Asian | 24.8% | 30.5% |
% Foreign Born | 42.0% | 9.7% |
Mortgage and Risk — San Mateo, CA
According to HUD data as of 2023, there were 218 mortgage originations in San Mateo, CA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in San Mateo, CA. Investor activity is low, as 7.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 218 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 7.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — San Mateo, CA
As of 2024, the percent of homes in San Mateo, CA under the Section 8 program is 6.2%. 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 San Mateo, 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 | 443 |
Total Units Section 8 | 443 |
% Rentals under Section 8 | 6.2% |
% Occupied Section 8 | 91.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $2,600 | $2,560 |
| 2 Bedroom | -$540 | $3,600 | $3,060 |
| 3 Bedroom | -$1,130 | $4,950 | $3,820 |
| 4 Bedroom | -$2,440 | $6,500 | $4,060 |
Affordability — San Mateo, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.5 |
| Median Home Price | $1,170,000 |
| Median Household Income | $121,000 |