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City

ZIP codes

Morgan Hill, CA · 95038

ACS 2024

Market Read

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

Tenant economics are strong. Median household income $164K, +2.9% YoY (county); renters hold 44.9% of county households. See the people evidence ↓

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: . 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.

Median Listing Price

Population

659,353

Median Days on Market

Active Listings

New Listings

Housing Market

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

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 95038? Put it next to another market.

State

City

Compare with

City

State

City

ZIP codes

Morgan Hill, CA · 95038

ACS 2024

Market Read

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

Tenant economics are strong. Median household income $164K, +2.9% YoY (county); renters hold 44.9% of county households. See the people evidence ↓

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

Median Listing Price

Population

659,353

Median Days on Market

Active Listings

New Listings

Housing Market

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

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 95038? Put it next to another market.