The typical owner-occupied home in San Mateo County is worth about $1,559,600, 2.1 times the California median of $734,700 and 4.7 times the national median of $332,700. Owners pay a median $9,519 a year in property taxes, about 0.61% of their home's value, lower than the California rate of 0.70%. The median household earns $158,855 a year, so the median home costs 9.8 times the median income (7.4 times for California). 58% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
San Mateo County at a glance
| San Mateo County | California | U.S. | |
|---|---|---|---|
| Median home value | $1,559,600 | $734,700 | $332,700 |
| Median property tax paid per year | $9,519 | $5,124 | $3,119 |
| Property tax as a share of value | 0.61% | 0.70% | 0.94% |
| Median household income | $158,855 | $99,122 | $80,734 |
| Homes lived in by their owners | 58% | 56% | 65% |
| Owner homes with a mortgage | 66% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,946 | $1,963 |
| Those costs as a share of the owners' income | 23.7% | 24.8% | 21.0% |
| Median rent | $2,922 | $2,036 | $1,413 |
| Rent as a share of renters' income | 29.3% | 32.8% | 30.6% |
| Median year homes were built | 1966 | 1976 | 1980 |
| Vacant homes | 7.9% | 7.5% | 10.1% |
| Population | 742,340 | 39,287,377 | 334,922,499 |
What a typical home costs per month in San Mateo County
At this week's average 30-year rate of 7.11%, buying the median San Mateo County home of $1,559,600 with 20% down costs about $9,836 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $12,685, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $421,536 for the 20%-down payment. That payment is 74% of the median San Mateo County household income of $158,855; at that income and 20% down, the 28% guideline points to a home of about $588,000.
The median rent here is $2,922 a month, so owning the median home costs about $6,914 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $311,920 |
|---|---|
| Loan amount | $1,247,680 |
| Principal and interest | $8,393 |
| Property taxes (0.61% a year) | $793 |
| Homeowners insurance (our estimate, 0.5% a year) | $650 |
| PMI | $0 |
| Total per month | $9,836 |
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| Down payment | $54,586 |
|---|---|
| Loan amount | $1,531,352 |
| Principal and interest | $10,302 |
| Property taxes (0.61% a year) | $793 |
| Homeowners insurance (our estimate, 0.5% a year) | $650 |
| FHA mortgage insurance | $941 |
| Total per month | $12,685 |
Change the numbers in the calculator
Questions about home buying in San Mateo County
What is the median home value in San Mateo County?
About $1,559,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in San Mateo County?
Homeowners pay a median $9,519 a year, which is about 0.61% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in San Mateo County?
For the median home with 20% down at 7.11%, the payment is about $9,836 a month. Keeping that under 28% of gross income takes about $421,536 a year.
More about San Mateo County
- Mortgage Refinance in San Mateo County
- Debt Relief in San Mateo County
- Home Equity Loans in San Mateo County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data