San Mateo, California Housing Market Prices
San Mateo 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 54% below the California median$296,936
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Median rent 51% above the California median$3,073
Housing Market Overview
| Metric | San Mateo | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $296,936 | $650,794 | $248,835 |
| Price Trend (Annual %) | -4.5% | 8.9% | 7.5% |
| Median Gross Rent | $3,073 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 6.5% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in San Mateo is about 54% lower than in California. Rent is about 51% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in San Mateo: home prices fell about 4.5% a year while rent rose about 6.5% a year. That is an unusual pattern worth watching.
Median rent in San Mateo rose about 74.9% between 2015 and 2024, from $1,757 to $3,073. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in San Mateo.
Buying the median-priced home in San Mateo costs roughly 8.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in San Mateo. The price-to-rent ratio in California is about 26.6.
| Metric | San Mateo | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $296,936 | $650,794 | $248,835 |
| Median Household Income | $153,407 | $99,161 | $80,455 |
| Price-to-Income Ratio | 1.9 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in San Mateo fell about 57.9%, while median household income rose about 78.9% 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 | San Mateo | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.8% | 51.7% | 58.5% |
| Rental Rate | 46.7% | 40.8% | 31.2% |
| Vacancy Rate | 6.5% | 7.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
San Mateo has a homeownership rate of 46.8%, lower than the California average of 51.7%. Its housing vacancy rate is 6.5%, compared with 7.5% in California.
Housing Stock
| Metric | San Mateo | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1966 | 1975 | 1978 |
| Median Number of Rooms | 4.4 | 5.0 | 5.5 |
The typical housing unit in San Mateo was built around 1966. On average, 2.5 people live in a home with about 4.4 rooms, staying for about 13.0 years on average.
San Mateo, CA Housing Compared With Nearby Cities
How San Mateo, CA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| San Mateo, CA | 101,951 | $296,936 #2/2 | $3,073 #1/2 | 50.0% #1/2 |
| Burlingame, CA | 29,545 | $2,165,902 | $2,786 | 49.1% |
Frequently Asked Questions
Common questions about the housing market in San Mateo, California.
What is the median home price in San Mateo, California?
The median home price in San Mateo, California is $296,936, lower than the California average of $650,794.
What is the average home price in San Mateo, California?
The typical home price in San Mateo, California, reported as the median sale price, is $296,936. 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 San Mateo, California?
The median gross rent in San Mateo, California is $3,073 per month, higher than the California average of $2,036.
What was the median gross rent in San Mateo in 2020?
In 2020, the median gross rent in San Mateo, California was $2,657 per month.
What is the price-to-rent ratio in San Mateo, California?
The price-to-rent ratio in San Mateo, California is about 8.1, meaning it would take roughly 8.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in San Mateo.
Are home prices or rent rising faster in San Mateo, California?
Home prices and rent are moving in opposite directions in San Mateo: home prices fell about 4.5% a year while rent rose about 6.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in San Mateo, California?
46.8% of households in San Mateo, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in San Mateo, California?
The housing vacancy rate in San Mateo, California is 6.5%, lower than the California average of 7.5%.
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