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A tight-supply, appreciation-lean market. The rent math runs thin; demand and tenant incomes are the story.
What would change this read: a price correction (median already −14.9% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, −23.9% YoY, is the number to watch.
The median listing price is down 14.9% YoY while the median home got down 10.4% bigger, so value per square foot is down 5.8%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $1.30M purchase rents for $3,420/mo: 0.26% of price per month against the 1% rule's 1.00%.
Not shown: Studio (rent only, no matching sale price), 5 BR (sale only, no matching rent).
Sales here take about 12 days longer to go under contract than rentals (median across 3 property types).
Not shown: Apartment (rented here, not sold).
U.S. Census ACS characteristics for ZIP 94403 itself, not its parent county.
Renters hold 47.5% of this ZIP's 16,414 occupied households, on a median household income of $175K.
| Measure | ZIP 94403 | San Mateo County | Difference |
|---|---|---|---|
| Median Household Income | $175K | $159K | +$16K |
| Below Poverty Level | 6.6% | 6.7% | -0.1% |
| Median Age | 38.90 | 40.90 | -2.00 |
| Total Population | 43,276 | 742,340 | -- |
| Avg Household Size | 2.59 | 2.76 | -0.17 |
| Owner-Occupied | 52.5% | 58.5% | -5.9% |
| Worked From Home | 25.5% | 24.3% | +1.2% |
| Mean Commute | 26.30 | 26.40 | -0.10 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is down 0.4% to 742,340: residents under 18 are down 2.0% and those 65 and over are up 2.6%.
County median household income is $159K, 6.7% of residents are below the poverty level, 24.3% work from home.