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San Mateo County, CA

RANK #930 / 996  ·  POP 754,250  ·  CA

PROJECTED GROWTH: -2.3%

San Mateo County is losing people and economic momentum. This metro faces significant structural headwinds.

[01] Why San Mateo County?

Redwood City, the county seat, boasts the slogan "Climate Best by Government Test" due to its 255 sunny days per year. San Mateo County sits on the San Francisco Peninsula, bordered by the Pacific Ocean and San Francisco Bay. It is approximately 25 miles south of San Francisco and north of San Jose, with commute options including Caltrain, BART, SamTrans buses, and various shuttle services. The community offers a blend of urban and suburban environments, with significant rural and coastal areas. Outdoor recreation is a major draw, with nearly three-quarters of the county designated as open space. Residents can explore redwood forests, coastal trails, and tide pools at places like Crystal Springs Regional Trail, Coyote Point Recreation Area, and Fitzgerald Marine Reserve.

Life in the county is shaped by its proximity to Silicon Valley and a diverse economy. Many families reside here, with 23 public school districts and three community colleges serving the area. The economy is stable, with ongoing investments in sectors like biotechnology and artificial intelligence. Recent initiatives aim to support local businesses and help residents, including recent graduates, find employment through wage subsidies. The county also sees continuous investment in commercial and residential development, healthcare, and infrastructure.

[02] Market Snapshot

Housing Ratio
5.5x

Above national median (4.7x)

GDP Growth
+9.7%

Well above national median

Home Prices
+0.0%

Well below national median

Climate & Terrain
8.2

Favorable climate & terrain

Price/Rent
34x

Speculative pricing

Housing is fairly valued at 5.5x relative to local economic output. Climate and geography support a structural premium. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

San Mateo County U.S. National

The Numbers

DEMOGRAPHICS
Population
754,250
-1.08% YoY
Median Household Income
$149,907
Median Home Value
$1,441,300
+0.02% 12mo
Median Rent
$2,805
Average Annual Pay
$196,441
+12.7% YoY
Employment
416,422
-1.0% YoY
Income-to-Home-Value
0.104
Less affordable than average
Migration Inflow
3.97%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$1,585,000
Days on Market
13
Very hot — homes selling fast
Months of Supply
1.9
Seller's market
Sale-to-List Ratio
105.0%
Homes selling above asking
Sold Above List
58.8%
Listings w/ Price Drops
17.1%
Building Permits (2024)
1,088
Single-Family Permits
521

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$3,302M
TOTAL
PROJECT AMOUNT STATUS
SamTrans 10-Year Capital Program
San Mateo County Transit District (SamTrans)
$2,000M Planned
Hillsdale Shopping Center Redevelopment
Undisclosed
$500M Planned
San Mateo Residential Developments (Multiple Projects)
Various Developers (e.g., Pulte Homes, KEMS Real Estate Development, SDG Architects, Terra Holdings Corp.)
$300M Proposed/Under Construction
Wright Solar Project
Centaurus Renewable Energy LLC (power purchased by Peninsula Clean Energy)
$200M Operating
Cordilleras Mental Health Facility
San Mateo County Joint Powers Financing Authority (JPFA)
$155M Completed
Gonzaga Ridge Wind Farm (repowering)
Scout Clean Energy and Peninsula Clean Energy
$148M Under Construction

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +9.7% 98 percentile
Population Growth -1.1% 3 percentile
Income Growth +9.6% 74 percentile
Vacancy Rate 1.6% 19 percentile
Home Price Change +0.0% 31 percentile
Rent Growth +5.2% 81 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is San Mateo County, CA a good place to move to?

San Mateo County has a Boom Town Index score of 7/100, ranking #930 among 996 U.S. counties. With job growth at -1.0% and a median household income of $149,907, it faces some economic headwinds compared to faster-growing counties.

Is San Mateo County affordable?

The median home value in San Mateo County is $1,441,300 with median rent at $2,805/month. The income-to-home-value ratio is 0.104, which is less affordable than the national average.

Is San Mateo County growing or shrinking?

Population growth: -1.1% year-over-year. Job growth: -1.0%. Home values changed +0.0% in the past 12 months.

Are people moving to San Mateo County?

Yes — 3.97% of San Mateo County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

Bowie County, TX 17 Wake County, NC 17 Clearfield County, PA 17 Paulding County, GA 17 Cobb County, GA 17 Rusk County, TX 17 Wayne County, NC 17 Glynn County, GA 17