San Mateo, California Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the San Mateo, California rental market.
San Mateo, California
Average Apartment Rent
$3,414
Y-o-Y Change in Average
Apartment Rent
1.9%
As of November 2024
Compared to a year ago, San Mateo, California apartments have recorded a 1.9% rent increase.
San Mateo, California Average apartment rent trend
San Mateo, California Average Apartment Rent
San Mateo, California Apartment rent ranges
At 99.65%, apartments priced Over $2,000 represent the bulk of San Mateo, California rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 0.35%.
San Mateo, California Housing tenure**
Renters take up 48% of San Mateo, California real estate, occupying a total of 19,337 units, while homeowners live in 20,579 properties.
Median number of rooms of renter-occupied housing units**
3.6
Renter median household income**
$127,025
Average household size of renter-occupied housing units**
2.49
Rental vacancy rate**
6.7%
San Mateo, California Renter-occupied housing units by no. of bedrooms**
There are 6,803 rentals in San Mateo, California with 2 beds making up the highest share of the market, at 35%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 138 units. Overall, the median number of rooms in San Mateo, California homes for rent is 3.6.
San Mateo, California Renter-occupied units by age of householder**
Most condos for rent in San Mateo, California are occupied by residents in the 25 - 34 years age group (32%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
San Mateo, California Renter-occupied housing units by family type**
San Mateo, California Renter-occupied housing units by the presence of own children**
A total of 10,428 apartments for rent in San Mateo, California, or 54% of all rentals are family households. Additionally, 27% of rental homes include children under the age of 18 – that’s 5,303 units. All in all, the median size of a renter-occupied household in San Mateo, California is 2.49.
San Mateo, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 59% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in San Mateo, California.
San Mateo, California Renter-occupied units by year structure built**
The highest share of San Mateo, California apartment rentals, namely 19% or 3,614 units, were Built 1960 - 1969, followed by those Built 1970 - 1979 (18%, 3,512 units), and the ones Built 1950 - 1959 (16%, 3,134 units).
San Mateo, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most San Mateo, California renters (35%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their San Mateo, California condos for rent is 2017.
San Mateo, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 46% of San Mateo, California renters have 1 vehicle available per household, 35% of them have 2 vehicles available, and 8% have No vehicle available.
San Mateo, California Means of transportation to work of householders living in renter-occupied housing units**
San Mateo, California Geographical mobility in the past year for householders living in renter-occupied housing units**
San Mateo, California Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all San Mateo, California apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
