Mill Valley, CA—94941
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mill Valley, CA
As of Oct '25, the median home price in Mill Valley, CA is $1,970,000, with a year-over-year change of -2.9%. This indicates that home prices in Mill Valley, CA are decreasing. According to Zillow, the 1-year price projection is -2.0%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,970,000 | -2.9% |
| Single Family | $2,056,000 | -2.4% |
| Condos | $979,000 | -0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $765,000 | -1.7% |
2 Bed | $1,331,000 | -2.4% |
3 Bed | $1,853,000 | -2.3% |
4 Bed | $2,553,000 | -1.7% |
| 5 Bed | $3,372,000 | -1.0% |
% of Housing Stock
Rental Trends — Mill Valley, CA
As of July '25, Rentcast reports the average rent in Mill Valley, CA is $4,890, with a year-over-year rent change of -12.7%. Per bedroom, the median rent as of July '25 in Mill Valley, CA is studios: $2,690, 1-bedrooms: $3,120, 2-bedrooms: $4,110, 3-bedrooms: $7,240, 4-bedrooms: $9,080. The most common rental property sizes in Mill Valley, CA are 2-bedroom and 1-bedroom, accounting for 31.9% and 30.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,290 | $4,890 |
| Studio Rent | $2,620 | $2,690 |
| 1 Bed Rent | $2,650 | $3,120 |
| 2 Bed Rent | $3,760 | $4,110 |
| 3 Bed Rent | $7,000 | $7,240 |
| 4 Bed Rent | $9,000 | $9,080 |
% of Rental Stock
Property Listings — Mill Valley, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Mill Valley, CA is 36. This is a increase of 5.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,820,000 | -4.0% |
Listing Count | 90 | 0.0% |
| Listings as % of Homes | 0.2% | 0.0% |
Days on Market | 36 | 5.0% |
Demographics — Mill Valley, CA
As of the latest ACS Survey released in 2023, Mill Valley, CA has a population of 32,300, which has remained stable by 1.0% over the past 5 years. Mill Valley, CA is a moderately popular place for families, as children make up 23.3% of the population. The area has a highly educated workforce, with 76.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 35.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,300 | 1.0% |
% Under 18 | 23.3% | 2.2% |
% Seniors | 19.9% | -4.8% |
% WFH | 35.9% | 152.8% |
% w/ College Degree | 76.9% | 2.0% |
As of the latest ACS Survey released in 2023, Mill Valley, CA is a predominantly white area, with 79.2% of the population identifying as white. The white population has shrunk by 2.3% in the last 5 years. The second most common race or ethnicity in Mill Valley, CA is hispanic, making up 7.5% of the population. Foreign-born residents account for 16.1% of the population in Mill Valley, CA, and this percentage has increased by 10.3% 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 | 79.2% | -2.3% |
% Black | 1.1% | 0.0% |
% Hispanic | 7.5% | 17.2% |
% Asian | 6.1% | -6.2% |
% Foreign Born | 16.1% | 10.3% |
Mortgage and Risk — Mill Valley, CA
According to HUD data as of 2023, there were 432 mortgage originations in Mill Valley, CA, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 41.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Mill Valley, CA. Investor activity is low, as 2.0% 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 | 432 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Mill Valley, CA
As of 2024, the percent of homes in Mill Valley, CA under the Section 8 program is 5.8%. 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 units appear to be good home sizes to consider for Section 8 housing in Mill Valley, CA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 327 |
Total Units Section 8 | 242 |
% Rentals under Section 8 | 5.8% |
% Occupied Section 8 | 84.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $440 | $2,650 | $3,090 |
| 2 Bedroom | -$70 | $3,760 | $3,690 |
| 3 Bedroom | -$2,400 | $7,000 | $4,600 |
| 4 Bedroom | -$4,110 | $9,000 | $4,890 |
Affordability — Mill Valley, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.5 |
| Median Home Price | $1,970,000 |
| Median Household Income | $210,000 |