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San Mateo, CA—94401

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$1,220,000
1.9% YoY Growth
Household Income
$121,000
36.0% YoY Growth
Days on Market
37
13.0% Shorter YoY
Home Price Forecast
-1.3%
Median Rent
$2,850
7.8% YoY Growth
1-Bed Rent
$2,600
6.9% YoY Growth
2-Bed Rent
$3,600
3.1% YoY Growth
3-Bed Rent
$4,950
9.5% YoY Growth

Other Zip Codes in San Mateo, CA

9440294403
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — San Mateo, CA

As of May '26, the median home price in San Mateo, CA is $1,220,000, with a year-over-year change of 1.9%. This indicates that home prices in San Mateo, CA are increasing. 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 TypeMedian Home ValueYoY % Change
All Homes
$1,220,0001.9%
Single Family $1,422,0002.7%
Condos $670,000-4.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $542,000
    -3.9%
    2 Bed
    		$991,0000.6%
    3 Bed
    		$1,401,0002.6%
    4 Bed
    		$1,699,0003.3%
    5 Bed $1,821,0974.1%
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    % of Housing Stock

    Studio
    9.3%
    1 Bedroom
    25.3%
    2 Bedrooms
    37.8%
    3 Bedrooms
    20.9%
    4 Bedrooms
    5.1%
    5+ Bedrooms
    1.6%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    13.5%
    1 Bedroom
    35.0%
    2 Bedrooms
    37.4%
    3 Bedrooms
    11.5%
    4 Bedrooms
    2.2%
    5+ Bedrooms
    0.4%

    Property Listings — San Mateo, CA

    As of May '26, Realtor.com reports that the median days on market for a home in San Mateo, CA is 37. This is a decrease of -13.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 8.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$680,00017.0%
    Listing Count
    		53-30.0%
    Listings as % of Homes0.3%-30.0%
    Days on Market
    		37-13.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		35,6000.6%
    % Under 18
    		18.9%-15.2%
    % Seniors
    		16.1%20.1%
    % WFH
    		18.8%327.3%
    % w/ College Degree
    		45.3%7.6%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio9.6
    Median Home Price$1,220,000
    Median Household Income$121,000

    San Mateo, CA — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    94402

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    Frequently Asked Questions