Redwood City, California Housing Market Prices
Redwood City 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 218% above the California median$2,067,415
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Median rent 46% above the California median$2,963
Housing Market Overview
| Metric | Redwood City | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,067,415 | $650,794 | $248,835 |
| Price Trend (Annual %) | 3.6% | 8.9% | 7.5% |
| Median Gross Rent | $2,963 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 6.4% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Redwood City is about 218% higher than in California. Rent is about 46% 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 Redwood City, up about 3.6% and 6.4% a year respectively. Rent is changing faster.
Median rent in Redwood City rose about 77.3% between 2015 and 2024, from $1,671 to $2,963. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 13.2 yearly household incomes in Redwood City.
Buying the median-priced home in Redwood City costs roughly 58.2 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 Redwood City. The price-to-rent ratio in California is about 26.6.
| Metric | Redwood City | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $2,067,415 | $650,794 | $248,835 |
| Median Household Income | $156,854 | $99,161 | $80,455 |
| Price-to-Income Ratio | 13.2 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Redwood City rose about 27.6%, while median household income rose about 92.2% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Redwood City | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.7% | 51.7% | 58.5% |
| Rental Rate | 47.7% | 40.8% | 31.2% |
| Vacancy Rate | 6.7% | 7.5% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Redwood City has a homeownership rate of 45.7%, lower than the California average of 51.7%. Its housing vacancy rate is 6.7%, compared with 7.5% in California.
Housing Stock
| Metric | Redwood City | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1971 | 1975 | 1978 |
| Median Number of Rooms | 4.4 | 5.0 | 5.5 |
The typical housing unit in Redwood City was built around 1971. On average, 2.7 people live in a home with about 4.4 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Redwood City, California.
What is the median home price in Redwood City, California?
The median home price in Redwood City, California is $2,067,415, higher than the California average of $650,794.
What is the average home price in Redwood City, California?
The typical home price in Redwood City, California, reported as the median sale price, is $2,067,415. 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 Redwood City, California?
The median gross rent in Redwood City, California is $2,963 per month, higher than the California average of $2,036.
What was the median gross rent in Redwood City in 2020?
In 2020, the median gross rent in Redwood City, California was $2,423 per month.
What is the price-to-rent ratio in Redwood City, California?
The price-to-rent ratio in Redwood City, California is about 58.2, meaning it would take roughly 58.2 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 Redwood City.
Are home prices or rent rising faster in Redwood City, California?
Both home prices and rent are rising in Redwood City, up about 3.6% and 6.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Redwood City, California?
45.7% of households in Redwood City, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Redwood City, California?
The housing vacancy rate in Redwood City, California is 6.7%, lower than the California average of 7.5%.
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