Millbrae, California Housing Market Prices
Millbrae Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 104% above the California median$1,327,183
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Median rent 61% above the California median$3,269
Housing Market Overview
| Metric | Millbrae | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,327,183 | $650,794 | $248,835 |
| Price Trend (Annual %) | 13.9% | 8.9% | 7.5% |
| Median Gross Rent | $3,269 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 6.9% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Millbrae is about 104% higher than in California. Rent is about 61% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Millbrae, up about 13.9% and 6.9% a year respectively. Home prices are changing faster.
Median rent in Millbrae rose about 77.1% between 2015 and 2024, from $1,846 to $3,269. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 8.1 yearly household incomes in Millbrae.
Buying the median-priced home in Millbrae costs roughly 33.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Millbrae. The price-to-rent ratio in California is about 26.6.
| Metric | Millbrae | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,327,183 | $650,794 | $248,835 |
| Median Household Income | $163,773 | $99,161 | $80,455 |
| Price-to-Income Ratio | 8.1 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Millbrae rose about 159.2%, while median household income rose about 88.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Millbrae | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.2% | 51.7% | 58.5% |
| Rental Rate | 37.1% | 40.8% | 31.2% |
| Vacancy Rate | 6.8% | 7.5% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Millbrae has a homeownership rate of 56.2%, higher than the California average of 51.7%. Its housing vacancy rate is 6.8%, compared with 7.5% in California.
Housing Stock
| Metric | Millbrae | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.76 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1962 | 1975 | 1978 |
| Median Number of Rooms | 5.3 | 5.0 | 5.5 |
The typical housing unit in Millbrae was built around 1962. On average, 2.8 people live in a home with about 5.3 rooms, staying for about 17.0 years on average.
Millbrae, CA Housing Compared With Nearby Cities
How Millbrae, CA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Millbrae, CA | 22,069 | $1,327,183 #2/3 | $3,269 #1/3 | 60.2% #2/3 |
| Burlingame, CA | 29,545 | $2,165,902 | $2,786 | 49.1% |
| Pacifica, CA | 27,360 | $1,288,422 | $3,049 | 65.5% |
Frequently Asked Questions
Common questions about the housing market in Millbrae, California.
What is the median home price in Millbrae, California?
The median home price in Millbrae, California is $1,327,183, higher than the California average of $650,794.
What is the average home price in Millbrae, California?
The typical home price in Millbrae, California, reported as the median sale price, is $1,327,183. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Millbrae, California?
The median gross rent in Millbrae, California is $3,269 per month, higher than the California average of $2,036.
What was the median gross rent in Millbrae in 2020?
In 2020, the median gross rent in Millbrae, California was $2,828 per month.
What is the price-to-rent ratio in Millbrae, California?
The price-to-rent ratio in Millbrae, California is about 33.8, meaning it would take roughly 33.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Millbrae.
Are home prices or rent rising faster in Millbrae, California?
Both home prices and rent are rising in Millbrae, up about 13.9% and 6.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Millbrae, California?
56.2% of households in Millbrae, California own their home, higher than the California average of 51.7%.
What is the vacancy rate in Millbrae, California?
The housing vacancy rate in Millbrae, California is 6.8%, lower than the California average of 7.5%.
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