Morgan Hill, CA—95037
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Morgan Hill, CA
As of Oct '25, the median home price in Morgan Hill, CA is $1,295,000, with a year-over-year change of -2.5%. This indicates that home prices in Morgan Hill, CA are decreasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,295,000 | -2.5% |
| Single Family | $1,348,000 | -2.1% |
| Condos | $768,000 | -2.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $564,000 | -3.9% |
2 Bed | $764,000 | -4.0% |
3 Bed | $1,086,000 | -3.6% |
4 Bed | $1,433,000 | -1.7% |
| 5 Bed | $1,770,000 | -0.4% |
% of Housing Stock
Rental Trends — Morgan Hill, CA
As of July '25, Rentcast reports the average rent in Morgan Hill, CA is $3,680, with a year-over-year rent change of 4.2%. Per bedroom, the median rent as of July '25 in Morgan Hill, CA is studios: $2,310, 1-bedrooms: $2,560, 2-bedrooms: $2,900, 3-bedrooms: $3,710, 4-bedrooms: $4,830. The most common rental property sizes in Morgan Hill, CA are 2-bedroom and 3-bedroom, accounting for 40.2% and 22.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,480 | $3,680 |
| Studio Rent | $2,310 | $2,310 |
| 1 Bed Rent | $2,640 | $2,560 |
| 2 Bed Rent | $2,800 | $2,900 |
| 3 Bed Rent | $3,650 | $3,710 |
| 4 Bed Rent | $4,700 | $4,830 |
% of Rental Stock
Property Listings — Morgan Hill, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Morgan Hill, CA is 63. This is a increase of 55.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,320,000 | -4.0% |
Listing Count | 143 | 15.0% |
| Listings as % of Homes | 0.3% | 15.0% |
Days on Market | 63 | 55.0% |
Demographics — Morgan Hill, CA
As of the latest ACS Survey released in 2023, Morgan Hill, CA has a population of 51,500, which has remained stable by -0.3% over the past 5 years. Morgan Hill, CA is a popular place for families, as children make up 25.7% of the population. The area has a moderately educated workforce, with 43.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,500 | -0.3% |
% Under 18 | 25.7% | -0.8% |
% Seniors | 15.4% | 9.2% |
% WFH | 19.0% | 192.3% |
% w/ College Degree | 43.8% | 2.8% |
As of the latest ACS Survey released in 2023, Morgan Hill, CA is a predominantly white area, with 40.4% of the population identifying as white. The white population has shrunk by 18.9% in the last 5 years. The second most common race or ethnicity in Morgan Hill, CA is hispanic, making up 36.2% of the population. Foreign-born residents account for 21.6% of the population in Morgan Hill, CA, and this percentage has increased by 18.0% 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 | 40.4% | -18.9% |
% Black | 2.1% | 23.5% |
% Hispanic | 36.2% | 9.7% |
% Asian | 15.9% | 37.1% |
% Foreign Born | 21.6% | 18.0% |
Mortgage and Risk — Morgan Hill, CA
According to HUD data as of 2023, there were 662 mortgage originations in Morgan Hill, CA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Morgan Hill, CA. Investor activity is low, as 1.0% 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 | 662 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Morgan Hill, CA
As of 2024, the percent of homes in Morgan Hill, CA under the Section 8 program is 9.2%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Morgan Hill, CA, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 457 |
Total Units Section 8 | 458 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 91.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$210 | $2,640 | $2,430 |
| 2 Bedroom | $20 | $2,800 | $2,820 |
| 3 Bedroom | -$40 | $3,650 | $3,610 |
| 4 Bedroom | -$710 | $4,700 | $3,990 |
Affordability — Morgan Hill, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.8 |
| Median Home Price | $1,295,000 |
| Median Household Income | $158,000 |