Rents are 13% above what San Mateo's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,968 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in San Mateo usually run 1.5% below trend in January and 1.7% above it in August, about $127 a month apart at today's median. Based on 11 years of data.
Rent in San Mateo is at its highest level since Zillow's records here began in April 2015.
Rent in San Mateo changed +10.7% over the year to September 2026. Across the 336 California cities Zillow tracks, the typical change was +3.4%.
From 2019 to 2024, rent in San Mateo rose 5.2% while median household income rose 23% ($124,842 to $153,504). Income kept ahead of rent.
Rent in San Mateo is 22% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 8 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($153,504) is $3,838 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($3,700); a 3-bedroom is $4,613.
The priciest of 3 ZIP codes in San Mateo, 94402 ($4,073/mo), costs 11% more than the cheapest, 94401 ($3,671/mo).
San Bruno, 8 miles away, rents for 16% less ($3,346/mo), about $7,500 a year in savings.
From Zillow's monthly rent index (ZORI) for San Mateo. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
San Mateo, CA is roughly split between renters and owners, has a median income above the national average, 57.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How San Mateo, CA has changed in 5 years
Five years ago, renters in San Mateo, CA paid around $2,912 a month. That figure now sits near $3,968, up 36.3% from the 2021 baseline. Median household income climbed from $133,612 to $153,504 between 2021 and 2024, a 14.9% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show San Mateo, CA losing about 1,982 residents over the five-year window, down 1.9% on net. The renter share has risen from 48.1% to 50.1%, with owner-occupied housing accounting for the remainder. Taken together, the five-year picture in San Mateo, CA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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At $3,968/mo, how San Mateo rent compares to typical pay (30% rule).
San Mateo rent by bedroom count
Median rent for each apartment size in San Mateo. Click any size for full breakdown.
Tips for renters in San Mateo
Last updated: October 17, 2026
The median rent in San Mateo is $3,968/mo as of October 2026. A studio apartment averages $2,537/mo while a 2-bedroom runs $3,700/mo. One-bedroom apartments average $3,100/mo and 3-bedroom units go for $4,613/mo.
At 31% of local median household income ($153,504/yr), San Mateo ranks as moderate compared to the national benchmark of 30%. Rents have increased 10.7% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than San Mateo?
At $3,968/mo, rent takes ~31% of San Mateo's median household income ($153,504/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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