menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



San Mateo, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

San Mateo, CA Housing Market Trends

With 100,984 people, 39,916 houses or apartments, and a median cost of homes of $1,752,432, San Mateo house prices are not only among the most expensive in California, San Mateo real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in San Mateo, accounting for 42.32% of the city's housing units. Other types of housing that are prevalent in San Mateo include large apartment complexes or high rise apartments ( 40.78%), row houses and other attached homes ( 9.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.79%).

People in San Mateo primarily live in small (one, two or no bedroom) single-family detached homes. San Mateo has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. San Mateo's housing was primarily built during this period, from the '40s through the '60s. A full 48.01% of the city's housing hails from this era. Other housing ages represented in San Mateo include homes built between 1970-1999 ( 31.37%) and housing constructed between 2000 and later ( 10.56%). There's also some housing in San Mateo built before 1939 ( 10.06%).

San Mateo Home Appreciation Rates

Real estate appreciation rates in San Mateo's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.08% during the period.

Appreciation rates are so strong in San Mateo that despite a nationwide downturn in the housing market, San Mateo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, San Mateo appreciation rates continue to be some of the highest in America, at 8.93%, which is higher than appreciation rates in 80.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in San Mateo. San Mateo appreciation rates in the latest quarter were at 2.58%, which equates to an annual appreciation rate of 10.71%.

Relative to California, our data show that San Mateo's latest annual appreciation rate is higher than 70% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within San Mateo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in San Mateo - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best San Mateo real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,752,432

San Mateo, CA Home Prices
> $1,212,000
$908,001 - $1,212,000
$606,001 - $908,000
$484,001 - $606,000
$363,001 - $484,000
$243,001 - $363,000
$121,001 - $243,000
$61,001 - $121,000
$0 - $61,000
74.6%
74.6%
14.0%
14.0%
6.9%
6.9%
1.3%
1.3%
0.8%
0.8%
0.6%
0.6%
0.5%
0.5%
0.5%
0.5%
0.7%
0.7%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

39,916

San Mateo Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,757 / per month

Homeownership Rate

Owners
Renters
50.6%
50.6%
49.4%
49.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.0%
7.0%
93.0%
93.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.6%
10.6%
31.4%
31.4%
48.0%
48.0%
10.1%
10.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
42.3%
42.3%
9.8%
9.8%
6.8%
6.8%
40.8%
40.8%
0.1%
0.1%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
6.9%
6.9%
20.2%
20.2%
30.2%
30.2%
28.6%
28.6%
11.4%
11.4%
2.7%
2.7%
0% 100.0%
% of Homes