San Mateo’s housing market continues to exhibit resilience and growth, reflecting broader trends in the Bay Area. As of mid-2026, the median sale price for homes in San Mateo stands at approximately $1.8 million, marking a 13% increase from the previous year. Homes are selling swiftly, with an average of 13 days on the market, indicating sustained demand.
Rental Market Dynamics
The rental sector mirrors this upward trajectory. The average rent in San Mateo has risen to $3,667, a 6.1% increase over the past year. This trend underscores the city’s desirability and the competitive nature of its rental market.
Upcoming Developments
To address housing demand, several significant developments are underway:
1770 S. Amphlett Blvd
This project involves demolishing a vacant hotel to construct 234 residential units, including 75 apartment-style units, with 57 designated as affordable housing.
477 E. Hillsdale Boulevard
Plans are set to replace the closed Hillsdale Inn with a seven-story multi-family and townhome development comprising 278 units.
Hillsdale Reimagined
A transformative redevelopment of the existing Hillsdale Mall aims to create a walkable, transit-oriented neighborhood featuring nearly 1,400 new homes, including 208 affordable units.
Affordable Housing Initiatives
Organizations like HEART of San Mateo County are actively working to meet critical housing needs by providing funding for affordable housing projects and offering resources for first-time homebuyers.
As San Mateo evolves, these developments and initiatives play a crucial role in shaping a vibrant and inclusive community, balancing growth with the preservation of the city’s unique character.