Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | South San Francisco | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,251,266 | $642,203 | $242,182 |
| Price Trend (Annual %) | 135.2% | 10.0% | 8.2% |
| Median Gross Rent | $2,854 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 8.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in South San Francisco is about 95% higher than in California. Rent is about 46% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in South San Francisco, up about 135.2% and 8.5% a year respectively. Home prices are changing faster.
Median rent in South San Francisco rose about 83.7% between 2015 and 2023, from $1,554 to $2,854. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 9.4 yearly household incomes in South San Francisco.
Buying the median-priced home in South San Francisco costs roughly 36.5 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 South San Francisco. The price-to-rent ratio in California is about 27.4.
| Metric | South San Francisco | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,251,266 | $642,203 | $242,182 |
| Median Household Income | $132,837 | $96,718 | $78,145 |
| Price-to-Income Ratio | 9.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in South San Francisco rose about 136.2%, while median household income rose about 82.0% between 2009 and 2023 — 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 | South San Francisco | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.9% | 51.6% | 58.2% |
| Rental Rate | 38.0% | 40.9% | 31.3% |
| Vacancy Rate | 6.1% | 7.6% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
South San Francisco has a homeownership rate of 55.9%, higher than the California average of 51.6%. Its housing vacancy rate is 6.1%, compared with 7.6% in California.
Housing Stock
| Metric | South San Francisco | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.87 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1966 | 1975 | 1978 |
| Median Number of Rooms | 4.9 | 5.0 | 5.5 |
The typical housing unit in South San Francisco was built around 1966. On average, 2.9 people live in a home with about 4.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in South San Francisco, California.
What is the median home price in South San Francisco, California?
The median home price in South San Francisco, California is $1,251,266, higher than the California average of $642,203.
What is the average home price in South San Francisco, California?
The typical home price in %s, reported as the median sale price, is %s. 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 South San Francisco, California?
The median gross rent in South San Francisco, California is $2,854 per month, higher than the California average of $1,955.
What was the median gross rent in South San Francisco in 2020?
In 2020, the median gross rent in South San Francisco, California was $2,271 per month.
What is the price-to-rent ratio in South San Francisco, California?
The price-to-rent ratio in South San Francisco, California is about 36.5, meaning it would take roughly 36.5 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 South San Francisco.
Are home prices or rent rising faster in South San Francisco, California?
Both home prices and rent are rising in South San Francisco, up about 135.2% and 8.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in South San Francisco, California?
55.9% of households in South San Francisco, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in South San Francisco, California?
The housing vacancy rate in South San Francisco, California is 6.1%, lower than the California average of 7.6%.