California · San Francisco-Oakland-Fremont, CA metro area

Buying a home in San Mateo, California

In San Mateo, the median value of owner-occupied homes is $1,618,700, San Mateo County's effective property tax rate is 0.61%, and a purchase mortgage carried a median $8,058 in total loan costs in 2025.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

San Mateo home costs, fact by fact

About San Mateo

San Mateo, a city of 103,006 residents, lies in the San Francisco-Oakland-Fremont, CA metro area, the 13th largest in the country. Median gross rent is $3,077 per month, and 49.9% of homes are owner-occupied.

Reading the San Mateo figures

Rent is the sharper story in San Mateo. Renters here pay $3,077 at the median, more than in Sunnyvale ($3,039) or San Francisco ($2,476), yet the federal housing agency's figure for the San Francisco area reaches $3,697, and its larger-home line $4,832. That HUD number covers a wider territory, so it works as a reference ceiling, not a market median, but it shows that a renter who needs more space can pay noticeably more than the headline figure. Berkeley, at $2,133, sits far lower, and Fremont, at $2,933, a little below San Mateo.

Buying costs more still in absolute terms. The typical home is worth $1,618,700 in owners' eyes, compared with $770,700 for California as a whole. Only Sunnyvale, at $1,801,800, is higher among the cities named here. Santa Clara, Berkeley, Fremont and San Francisco all sit lower, ranging between $1,394,500 and $1,582,600. No recorded sale prices sit behind these numbers; they come from owners' own estimates, so they show where a city stands more than what any single house would fetch.

Tenure is nearly balanced, with 49.9% of households owning. That share beats Berkeley, Santa Clara and San Francisco, which show 44.2%, 40.8% and 38.2%. Fremont and Carlsbad, by contrast, show 60.8% and 62.9%, so San Mateo does not behave like the most owner-heavy places in the state.

The county sets the carrying costs. In San Mateo County, a 0.61% effective rate and a county valuation of $1,559,600 produce $9,519 annually. On the lending side, 2025 records cover 3,480 loans, and the typical borrower faced $8,058 in financing charges; the middle range runs from $6,698 to $10,512.

The metro context is the San Francisco-Oakland-Fremont area, ranked 13th in the country with 4,648,486 people, while the city itself has 103,006. Inside the state, values fall quickly as you move away from the Bay Area: Costa Mesa, Daly City and Glendale all land between $1,102,300 and $1,115,100, and Los Angeles sits at $921,200.

A practical way to read all this is to set the $3,077 median rent beside what a home near $1,618,700 would cost to carry, then check both against the 0.61% tax rate. A reader who also sees San Jose at $2,669 in rent and a median value of $1,233,200 will notice that San Mateo asks more on both counts, while Irvine, valued at $1,191,500 with rent of $2,997, falls between them on rent.

Further comparisons help. Glendale rents for $2,182 and Costa Mesa for $2,446, both far below San Mateo, and Los Angeles, at $1,933, lower again. For anyone choosing between this city and Sunnyvale, the trade-off is a lower value, $1,618,700 against $1,801,800, in exchange for a slightly higher rent and a much higher share of owners.

Calculate for California

If you buy

California state transfer tax

California has no state transfer tax; counties and cities may charge one.

Price$770,700
State transfer taxnot computed
Who paysSet by the purchase contract

Default price: the California median value of owner-occupied homes, $770,700 (Census ACS 2025). Not computed: No state tax. The tax is set by county and city, so it cannot be computed from the state alone. Who pays: Neither the state statute nor the City of Los Angeles FAQ assigns the tax; the purchase contract and escrow instructions decide. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. California transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: California state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in San Mateo

How much is property tax in San Mateo?

Homeowners in San Mateo County pay a median $9,519 a year in property tax, 0.61% of the county median home value of $1,559,600 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in San Mateo?

Home-purchase mortgages in San Mateo County carried median total loan costs of $8,058 in 2025; half of the 3,480 loans fell between $6,698 and $10,512 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in San Mateo?

California has no state transfer tax. Counties may charge $0.55 per $500 of value under the Documentary Transfer Tax Act, and cities such as Los Angeles add their own, with Measure ULA adding 4% or 5.5% on very high-priced sales.

Is it cheaper to rent or buy in San Mateo?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in San Mateo ($1,618,700) equals 43.8 years of the median gross rent ($3,077 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in San Mateo?

Across California, the main hazards for home insurance are earthquake, wildfire, flood and landslide, and the insurer of last resort is California FAIR Plan. A standard California homeowners policy does not cover earthquake damage; insurers must offer earthquake coverage (Insurance Code 10081), and the FAIR Plan sells limited fire coverage up to $3 million for residential policyholders.

Run your own numbers: rent vs buy calculator · closing costs calculator.

California rules that apply in San Mateo

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Sources

California · All states · Federal guides