San Carlos, CA—94070
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — San Carlos, CA
As of Oct '25, the median home price in San Carlos, CA is $2,315,000, with a year-over-year change of 2.5%. This indicates that home prices in San Carlos, 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 | $2,315,000 | 2.5% |
| Single Family | $2,434,000 | 2.8% |
| Condos | $994,000 | -6.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $778,000 | -3.4% |
2 Bed | $1,464,000 | 0.5% |
3 Bed | $2,273,000 | 2.7% |
4 Bed | $2,864,000 | 1.7% |
| 5 Bed | $3,252,000 | 0.7% |
% of Housing Stock
Rental Trends — San Carlos, CA
As of July '25, Rentcast reports the average rent in San Carlos, CA is $4,440, with a year-over-year rent change of 6.0%. Per bedroom, the median rent as of July '25 in San Carlos, CA is studios: $2,670, 1-bedrooms: $2,910, 2-bedrooms: $4,270, 3-bedrooms: $5,750, 4-bedrooms: $7,330. The most common rental property sizes in San Carlos, CA are 2-bedroom and 1-bedroom, accounting for 39.7% and 32.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,200 | $4,440 |
| Studio Rent | $2,040 | $2,670 |
| 1 Bed Rent | $2,650 | $2,910 |
| 2 Bed Rent | $4,250 | $4,270 |
| 3 Bed Rent | $5,800 | $5,750 |
| 4 Bed Rent | $7,450 | $7,330 |
% of Rental Stock
Property Listings — San Carlos, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in San Carlos, CA is 33. This is a increase of 15.0% 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 | $1,970,000 | 7.0% |
Listing Count | 65 | 16.0% |
| Listings as % of Homes | 0.3% | 16.0% |
Days on Market | 33 | 15.0% |
Demographics — San Carlos, CA
As of the latest ACS Survey released in 2023, San Carlos, CA has a population of 30,700, which has decreased by -1.1% over the past 5 years. San Carlos, CA is a moderately popular place for families, as children make up 24.1% of the population. The area has a highly educated workforce, with 68.4% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 33.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,700 | -1.1% |
% Under 18 | 24.1% | -1.6% |
% Seniors | 16.4% | 4.5% |
% WFH | 33.0% | 345.9% |
% w/ College Degree | 68.4% | -0.9% |
As of the latest ACS Survey released in 2023, San Carlos, CA is a predominantly white area, with 57.3% of the population identifying as white. The white population has shrunk by 16.7% in the last 5 years. The second most common race or ethnicity in San Carlos, CA is asian, making up 21.8% of the population. Foreign-born residents account for 24.7% of the population in San Carlos, CA, and this percentage has increased by 26.0% 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 | 57.3% | -16.7% |
% Black | 0.8% | 14.3% |
% Hispanic | 10.8% | 25.6% |
% Asian | 21.8% | 37.1% |
% Foreign Born | 24.7% | 26.0% |
Mortgage and Risk — San Carlos, CA
According to HUD data as of 2023, there were 417 mortgage originations in San Carlos, CA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in San Carlos, CA. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 417 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — San Carlos, CA
As of 2024, the percent of homes in San Carlos, CA under the Section 8 program is 2.3%. 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 San Carlos, 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 | 74 |
Total Units Section 8 | 74 |
% Rentals under Section 8 | 2.3% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $320 | $2,650 | $2,970 |
| 2 Bedroom | -$700 | $4,250 | $3,550 |
| 3 Bedroom | -$1,370 | $5,800 | $4,430 |
| 4 Bedroom | -$2,740 | $7,450 | $4,710 |
Affordability — San Carlos, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.2 |
| Median Home Price | $2,315,000 |
| Median Household Income | $235,000 |