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San Mateo County Housing: Today & Tomorrow

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By 2025, San Mateo County will add 71,000 new households and 133,300 new jobs. To accommodate this growth, 73,000 new housing units will be needed by 2025. The county could face a shortage of at least 35,000 housing units if it doesn’t change its current housing development trends.1

San Mateo County Housing Today:

  • Currently, homebuyers spend an average of $1,251,416 for a single-family home and $631,184 for a condominium or townhouse.2

  • The median single-family home price is $880,000, requiring an income of $260,000.3

  • A $750,000 home has a monthly mortgage of approximately $4,000.4

  • As of 2006, 62% of households earn less than $100,000 per year.5

  • As of 2006, 12% of households could afford a median priced single-family home.6

  • Only 3.5% of apartments were available to be rented as of September 2007.7

  • As of September 2007, the average two-bedroom apartment rent was $1,769.8

  • Residents need an income of $71,000 to afford rent for a two-bedroom apartment.9

  • The number of new house construction building permits issued annually has steadily decreased from 1,143 in 2000 to 446 in 2006.10


San Mateo County Housing Tomorrow:

  • In the next 20 years, the number of households will increase by 14%.11

  • By 2025 the county will add 71,000 new households and 133,300 new jobs.12

  • 73,000 new housing units will be needed by 2025 to accommodate this growth.13

  • Housing is needed for all income levels, but the majority (65%) is needed for residents and families earning less than $100,000 per year.14

  • Less than half of the housing needs for San Mateo County will be met. The county could potentially face a shortage of 35,000 to 49,000 housing units by following the current housing development trend.15

1 Housing our Future: 2006 San Mateo County Housing Needs Study. City/County Association of Governments, Economic and Planning Systems.

2 San Mateo County Housing Indicators (as of March 31, 2007). County of San Mateo, Department of Housing at www.co.sanmateo.ca.us.

3 City/County Association of Governments of San Mateo County; San Mateo County Department of Housing; California Association of Realtors.

4 Housing our Future: 2006 San Mateo County Housing Needs Study. City/County Association of Governments, Economic and Planning Systems.

5 U.S. Census Bureau, 2006 American Community Survey at factfinder.census.gov

6 California Association of Realtors.

7 San Mateo County Housing Indicators (as of September, 2007). County of San Mateo, Department of Housing at www.co.sanmateo.ca.us.

8 Id.

9 Based on an annual income in which 30% is allocated towards rent.

10 City-data.com

11 Housing our Future: 2006 San Mateo County Housing Needs Study. City/County Association of Governments, Economic and Planning Systems.

12 Id.

13 Id.

14 Id.

15 Id.