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Morgan Hill, California

Realtor Aug 2026 · ACS 2024

Market Read

A market with no active rental pool to price against. The sale-side figures below are the whole picture.

Demand is unremarkable. Hotness 57/100, supply score 66, homes go under contract 10.5% faster than the US median, at 353% of US prices. See the sale evidence ↓
Tenant economics are strong. Median household income $163K, +3.1% YoY (ZIP); renters hold 29.4% of ZIP households. See the people evidence ↓

What would change this read: the median listing price is +11.0% YoY. inventory, −6.1% YoY, is the number to watch.

Gross Rental Yield

–

1% rule implies 12%/yr

Rent-to-Price

–

1% rule benchmark: 1.00%/mo

Gross Rent Multiplier

–

Price ÷ annual gross rent

Asking vs Voucher

–

No bedroom size has both a rent sample and a published FMR

Computed from this page's data: median listing $1,499,000 (Realtor). The listing and rental pools are separate samples, not the same homes priced two ways, so the ratios describe the market rather than any one property. Ratios with reasons, not a recommendation to buy.

2 ZIPs in this city:95037 95038

Market Hotness

57 / 100Realtor.com competitiveness composite

national · lower = hotter

0–100 · supply + demand

higher = tighter supply

higher = stronger demand

−10.5%

homes sell faster here

353%

of national median · above avg

Median Listing Price

$1.50M

Population

51,943

16,742

Median Days on Market

Active Listings

110

New Listings

Housing Market

The median listing price is up 11.0% YoY while the median home got up 2.6% bigger, so value per square foot is down 5.6%.

Pricing

Median Listing Price

$1.50M+11.0% YoY

Average Listing Price

$1.76M+7.3% YoY

Price per Sq Ft

$589-5.6% YoY

Median Sq Ft

2,237+2.6% YoY

Inventory

Active Listings

110+5.8% YoY

New Listings

48+20.0% YoY

Total Listings

155-6.1% YoY

Buyer Competition

Pending Listings

46-28.1% YoY

Pending Ratio

0.42-32.0% YoY

Median Days on Market

50+6.4% YoY

Price Reduced

12.6%-30.9% YoY

Units & Occupancy

2024 Occupancy ⓘ

U.S. Census ACS · n = 698,837

699Kunits

Occupied659,35394.4%

Vacant39,4845.6%

2024 Tenure ⓘ

U.S. Census ACS · n = 659,353

659Koccupied

Owner363,14755.1%

Renter296,20644.9%

Renter Share

44.9%+0.5% YoY

Total Housing Units

698,837+0.7% YoY

FY2026 Fair Market Rent

CountySanta Clara County · HUD 40th-percentile estimate, not actual market asking rent

Studio

$2,621

/month

1 BR

$2,982

/month

2 BR

$3,483

/month

3 BR

$4,602

/month

4 BR

$5,010

/month

FMR trends · Santa Clara County

HUD Fair Market Rents · FY1983–FY2026

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Renters hold 29.4% of this ZIP's 16,742 occupied households, on a median household income of $163K.

Population & Age

Total Population

51,943+0.8% YoY

2024 Age Mix ⓘ

U.S. Census ACS · n = 51,943

52Kresidents

Under 1813,59826.2%

Adults 18–6430,09157.9%

65 & Over8,25415.9%

Age Composition Over Time

U.S. Census ACS · 2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

39.20+0.3% YoY

Population Under 18

13,598+2.5% YoY

Population 65 & Over

8,254+4.4% YoY

Households & Mobility

Total Households

16,742+1.4% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

3.07-0.3% YoY

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house90.5%

Moved (within US)9.0%

Other0.5%

Veterans

5.5%+5.8% YoY

Income & Poverty

Median Household Income

$163K+3.1% YoY

Per-Capita Income

$71K+6.7% YoY

Mean Household Income

$213K+5.5% YoY

Below Poverty Level

4.7%+4.4% YoY

Commuting

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone65.3%

Public transit0.8%

Worked from home23.1%

Other10.8%

Worked From Home

23.1%+21.6% YoY

Mean Commute

33.20-3.5% YoY

Units & Tenure

Total Housing Units

17,571+2.2% YoY

2024 Occupancy ⓘ

U.S. Census ACS · n = 17,571

18Kunits

Occupied16,74295.3%

Vacant8294.7%

2024 Tenure ⓘ

U.S. Census ACS · n = 16,742

17Khouseholds

Owner11,82270.6%

Renter4,92029.4%

Avg Household Size — Owner

2.95-1.3% YoY

Avg Household Size — Renter

3.35+0.9% YoY

County Demographics

County population is down 0.1% to 1,902,047: residents under 18 are down 2.2% and those 65 and over are up 3.0%.

Median Age

38.12024

Population

Santa Clara County Population

1,926,325+1.5% YoY

Households

Total Households

659,353+0.7% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.82-1.1% YoY

Age

2024 Age Mix ⓘ

U.S. Census ACS · n = 1,902,047

1.9Mresidents

Under 18390,07620.5%

Adults 18–641,229,96164.7%

65 & Over282,01014.8%

Age Composition Over Time

U.S. Census ACS · 2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

390,076-2.2% YoY

Population 65 & Over

282,010+3.0% YoY

Median Age

38.10+0.5% YoY

Mobility & Veterans

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house86.0%

Moved (within US)12.4%

Other1.6%

Veterans

2.6%-3.7% YoY

County Economy

County median household income is $164K, 7.1% of residents are below the poverty level, 23.9% work from home.

Income

Median Household Income

$164K+2.9% YoY

Per-Capita Income

$80K+4.3% YoY

Mean Household Income

$227K+3.3% YoY

Poverty

Below Poverty Level

7.1%+2.9% YoY

Transportation to Work

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone59.9%

Public transit2.3%

Worked from home23.9%

Other13.9%

Worked From Home

23.9%+9.1% YoY

Mean Commute

26.20-3.0% YoY

Done with Morgan Hill? Put it next to another market.

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Morgan Hill, California

Realtor Aug 2026 · ACS 2024

Market Read

A market with no active rental pool to price against. The sale-side figures below are the whole picture.

Demand is unremarkable. Hotness 57/100, supply score 66, homes go under contract 10.5% faster than the US median, at 353% of US prices. See the sale evidence ↓
Tenant economics are strong. Median household income $163K, +3.1% YoY (ZIP); renters hold 29.4% of ZIP households. See the people evidence ↓

What would change this read: the median listing price is +11.0% YoY. inventory, −6.1% YoY, is the number to watch.

Gross Rental Yield

–

1% rule implies 12%/yr

Rent-to-Price

–

1% rule benchmark: 1.00%/mo

Gross Rent Multiplier

–

Price ÷ annual gross rent

Asking vs Voucher

–

No bedroom size has both a rent sample and a published FMR

2 ZIPs in this city:95037 95038

Market Hotness

57 / 100Realtor.com competitiveness composite

national · lower = hotter

0–100 · supply + demand

higher = tighter supply

higher = stronger demand

−10.5%

homes sell faster here

353%

of national median · above avg

Median Listing Price

$1.50M

Population

51,943

16,742

Median Days on Market

Active Listings

110

New Listings

Housing Market

The median listing price is up 11.0% YoY while the median home got up 2.6% bigger, so value per square foot is down 5.6%.

Pricing

Median Listing Price

$1.50M+11.0% YoY

Average Listing Price

$1.76M+7.3% YoY

Price per Sq Ft

$589-5.6% YoY

Median Sq Ft

2,237+2.6% YoY

Inventory

Active Listings

110+5.8% YoY

New Listings

48+20.0% YoY

Total Listings

155-6.1% YoY

Buyer Competition

Pending Listings

46-28.1% YoY

Pending Ratio

0.42-32.0% YoY

Median Days on Market

50+6.4% YoY

Price Reduced

12.6%-30.9% YoY

Units & Occupancy

2024 Occupancy ⓘ

U.S. Census ACS · n = 698,837

699Kunits

Occupied659,35394.4%

Vacant39,4845.6%

2024 Tenure ⓘ

U.S. Census ACS · n = 659,353

659Koccupied

Owner363,14755.1%

Renter296,20644.9%

Renter Share

44.9%+0.5% YoY

Total Housing Units

698,837+0.7% YoY

FY2026 Fair Market Rent

CountySanta Clara County · HUD 40th-percentile estimate, not actual market asking rent

Studio

$2,621

/month

1 BR

$2,982

/month

2 BR

$3,483

/month

3 BR

$4,602

/month

4 BR

$5,010

/month

FMR trends · Santa Clara County

HUD Fair Market Rents · FY1983–FY2026

ZIP Profile

U.S. Census ACS characteristics rolled up across the ZIP Code Tabulation Areas in this area, not the parent county.

Renters hold 29.4% of this ZIP's 16,742 occupied households, on a median household income of $163K.

Population & Age

Total Population

51,943+0.8% YoY

2024 Age Mix ⓘ

U.S. Census ACS · n = 51,943

52Kresidents

Under 1813,59826.2%

Adults 18–6430,09157.9%

65 & Over8,25415.9%

Age Composition Over Time

U.S. Census ACS · 2019–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Median Age

39.20+0.3% YoY

Population Under 18

13,598+2.5% YoY

Population 65 & Over

8,254+4.4% YoY

Households & Mobility

Total Households

16,742+1.4% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

3.07-0.3% YoY

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house90.5%

Moved (within US)9.0%

Other0.5%

Veterans

5.5%+5.8% YoY

Income & Poverty

Median Household Income

$163K+3.1% YoY

Per-Capita Income

$71K+6.7% YoY

Mean Household Income

$213K+5.5% YoY

Below Poverty Level

4.7%+4.4% YoY

Commuting

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone65.3%

Public transit0.8%

Worked from home23.1%

Other10.8%

Worked From Home

23.1%+21.6% YoY

Mean Commute

33.20-3.5% YoY

Units & Tenure

Total Housing Units

17,571+2.2% YoY

2024 Occupancy ⓘ

U.S. Census ACS · n = 17,571

18Kunits

Occupied16,74295.3%

Vacant8294.7%

2024 Tenure ⓘ

U.S. Census ACS · n = 16,742

17Khouseholds

Owner11,82270.6%

Renter4,92029.4%

Avg Household Size — Owner

2.95-1.3% YoY

Avg Household Size — Renter

3.35+0.9% YoY

County Demographics

County population is down 0.1% to 1,902,047: residents under 18 are down 2.2% and those 65 and over are up 3.0%.

Median Age

38.12024

Population

Santa Clara County Population

1,926,325+1.5% YoY

Households

Total Households

659,353+0.7% YoY

Household Types ⓘ

U.S. Census ACS

--Not reported for this area (ACS).

Avg Household Size

2.82-1.1% YoY

Age

2024 Age Mix ⓘ

U.S. Census ACS · n = 1,902,047

1.9Mresidents

Under 18390,07620.5%

Adults 18–641,229,96164.7%

65 & Over282,01014.8%

Age Composition Over Time

U.S. Census ACS · 2017–2024

Population growth (first year = 100)

Share of population (change in pp)

Under 18Adults 18–6465 & Over

Population Under 18

390,076-2.2% YoY

Population 65 & Over

282,010+3.0% YoY

Median Age

38.10+0.5% YoY

Mobility & Veterans

2024 Residential Mobility ⓘ

U.S. Census ACS

of residents

Same house86.0%

Moved (within US)12.4%

Other1.6%

Veterans

2.6%-3.7% YoY

County Economy

County median household income is $164K, 7.1% of residents are below the poverty level, 23.9% work from home.

Income

Median Household Income

$164K+2.9% YoY

Per-Capita Income

$80K+4.3% YoY

Mean Household Income

$227K+3.3% YoY

Poverty

Below Poverty Level

7.1%+2.9% YoY

Transportation to Work

2024 Commute Mode ⓘ

U.S. Census ACS

of workers

Drove alone59.9%

Public transit2.3%

Worked from home23.9%

Other13.9%

Worked From Home

23.9%+9.1% YoY

Mean Commute

26.20-3.0% YoY

Done with Morgan Hill? Put it next to another market.