San Mateo, CA—94403
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 $1,736,000, with a year-over-year change of -0.6%. This indicates that home prices in San Mateo, CA are flat. According to Zillow, the 1-year price projection is -1.3%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,736,000 | -0.6% |
| Single Family | $1,850,000 | 0.1% |
| Condos | $793,000 | -7.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $576,000 | -6.9% |
2 Bed | $1,217,000 | -2.6% |
3 Bed | $1,781,000 | 0.0% |
4 Bed | $2,253,000 | 0.7% |
| 5 Bed | $2,520,000 | 1.7% |
% of Housing Stock
Rental Trends — San Mateo, CA
As of July '25, Rentcast reports the average rent in San Mateo, CA is $4,110, with a year-over-year rent change of 9.6%. Per bedroom, the median rent as of July '25 in San Mateo, CA is studios: $2,540, 1-bedrooms: $2,690, 2-bedrooms: $3,920, 3-bedrooms: $5,180, 4-bedrooms: $7,420. The most common rental property sizes in San Mateo, CA are 2-bedroom and 1-bedroom, accounting for 35.0% and 33.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,570 | $4,110 |
| Studio Rent | $2,420 | $2,540 |
| 1 Bed Rent | $2,500 | $2,690 |
| 2 Bed Rent | $3,500 | $3,920 |
| 3 Bed Rent | $4,950 | $5,180 |
| 4 Bed Rent | $7,300 | $7,420 |
% 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 32. This is a increase of 35.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,720,000 | -3.0% |
Listing Count | 74 | 41.0% |
| Listings as % of Homes | 0.2% | 41.0% |
Days on Market | 32 | 35.0% |
Demographics — San Mateo, CA
As of the latest ACS Survey released in 2023, San Mateo, CA has a population of 43,500, which has decreased by -1.9% over the past 5 years. San Mateo, CA is a moderately popular place for families, as children make up 19.3% of the population. The area has a highly educated workforce, with 60.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,500 | -1.9% |
% Under 18 | 19.3% | -4.9% |
% Seniors | 15.4% | 4.1% |
% WFH | 22.4% | 330.8% |
% w/ College Degree | 60.3% | 6.5% |
As of the latest ACS Survey released in 2023, San Mateo, CA is a predominantly white area, with 39.3% of the population identifying as white. The white population has shrunk by 10.1% in the last 5 years. The second most common race or ethnicity in San Mateo, CA is asian, making up 29.0% of the population. Foreign-born residents account for 36.6% of the population in San Mateo, CA, and this percentage has increased by 14.0% 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 | 39.3% | -10.1% |
% Black | 1.6% | 14.3% |
% Hispanic | 24.1% | 13.7% |
% Asian | 29.0% | 7.8% |
% Foreign Born | 36.6% | 14.0% |
Mortgage and Risk — San Mateo, CA
According to HUD data as of 2023, there were 413 mortgage originations in San Mateo, CA, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in San Mateo, CA. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 413 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
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 5.2%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in San Mateo, CA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 412 |
Total Units Section 8 | 411 |
% Rentals under Section 8 | 5.2% |
% Occupied Section 8 | 88.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $840 | $2,500 | $3,340 |
| 2 Bedroom | $480 | $3,500 | $3,980 |
| 3 Bedroom | $10 | $4,950 | $4,960 |
| 4 Bedroom | -$2,020 | $7,300 | $5,280 |
Affordability — San Mateo, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.2 |
| Median Home Price | $1,736,000 |
| Median Household Income | $180,000 |