Home Values in San Mateo, California — 2026 Market Report
Updated March 2026 | Seller's Market | +2.3% YoY
The median home value in San Mateo, California is $1,450,000 as of March 2026, which is above the national median of $400,000. Home values in San Mateo have increased by 2.3% over the past year and 12% over the last five years. With a population of 105,661 and a median household income of $118,250, the price-to-income ratio stands at 12.3x, making San Mateo affordable for the average household.
San Mateo Housing Market Conditions
| Metric | San Mateo | National Avg |
|---|---|---|
| Median Home Value | $1,450,000 | $400,000 |
| YoY Appreciation | +2.3% | +3.8% |
| 5-Year Appreciation | +12% | +22.4% |
| Price per Sq Ft | $1236 | $222 |
| Days on Market | 38 days | 45 days |
| Months of Supply | 2.5 | 3.5 |
| List-to-Sale Ratio | 98.3% | 98.5% |
| Monthly Homes Sold | 62 | — |
| Foreclosure Rate | 0.27% | 0.3% |
Home Value Trends in San Mateo
A homeowner who purchased at the median price of $1,294,643 five years ago in San Mateo would have gained approximately $155,357 in equity, representing a 12% return on investment. Over the past year alone, the typical homeowner gained $32,600 in home equity.
Affordability in San Mateo, CA
With a median household income of $118,250 and a median home price of $1,450,000, the price-to-income ratio in San Mateo is 12.3x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $8,701 compared to estimated monthly ownership costs of $7,805 gives a rent-vs-buy ratio of 0.90. In San Mateo, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in San Mateo
The effective property tax rate in California is 0.76%. On a home valued at $1,450,000, the estimated annual property tax bill is $11,020, or approximately $918/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in San Mateo is 195.5 (100 = national average), indicating living costs are above the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in San Mateo, CA?
The median home value in San Mateo, California is $1,450,000 as of March 2026. Home values have changed +2.3% over the past year, with a 5-year appreciation of 12%.
Is San Mateo a buyer's or seller's market?
San Mateo is currently a seller's market with 2.5 months of housing supply. Homes spend an average of 38 days on market, and the list-to-sale price ratio is 98.3%. Low inventory gives sellers an advantage.
Are home values going up in San Mateo?
Yes, home values in San Mateo have increased by 2.3% over the past year. The 5-year appreciation rate is 12%, meaning a home worth $1,294,643 five years ago is now worth $1,450,000.
Is it better to rent or buy in San Mateo?
The average monthly rent in San Mateo is $8,701, while estimated monthly homeownership costs are approximately $7,805. The price-to-rent ratio is 13.9. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for San Mateo, California is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.