ZIP Code · CA

ZIP 94002

Part of Belmont, CA

Pop. 27,534·San Mateo County·134th most expensive ZIP in California

Median rent (all units)

$3,789/mo

Year-over-Year

+12.5%

Month-over-Month

+1.9%

vs US Median

+$1,857

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 94002 · $3,789

More expensive than 97% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$2,720

1 BR

$3,260

2 BR

$3,950

3 BR

$5,050

4 BR+

$5,230

Research median

$3,950/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 94002 usually run 1.2% below trend in January and 1.1% above it in August, about $87 a month apart at today's median. Based on 7 years of data.

Compared with the peak

Rent in ZIP 94002 is at its highest level since Zillow's records here began in December 2018.

Past year vs. the rest of California

Rent in ZIP 94002 changed +12.5% over the year to September 2026. Across the 819 California ZIP codes Zillow tracks, the typical change was +3.2%.

Since before the pandemic

Rent in ZIP 94002 is 22.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 8 months in a row, and rose in 11 of the last 12 months.

What a typical income covers

30% of the median household income ($203,965) is $5,099 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($5,050); a 4-bedroom is $5,230.

From Zillow's monthly rent index (ZORI) for ZIP 94002. 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.

Annual cost

$45,468/yr

At $3,789/mo median

Location

CityBelmont

StateCA

CountySan Mateo County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 12.5% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+12.5% YoY, +1.9% MoM), not inventory.

Demographics

Who lives here

ZIP 94002 (Belmont, CA) is roughly split between renters and owners, has a median income above the national average, 69.4% of residents hold a bachelor's degree or higher.

Population

27,534

Median income

$203,965

Median age

39.8

Renters

45%

Age distribution

23.7%

19.1%

31.2%

12.1%

13.9%

Under 1823.7%

18–3419.1%

35–5431.2%

55–6412.1%

65+13.9%

Gender

50%

Male50%

Female50%

Race & ethnicity

48.4%

13.4%

30.7%

White48.4%

Black2.6%

Hispanic13.4%

Asian30.7%

Other4.9%

Education (25+)

18.1%

69.4%

No HS diploma4.7%

HS diploma7.9%

Some college18.1%

Bachelor's+69.4%

Housing tenure

55%

45%

Owner55%

Renter45%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 94002 in Belmont, CA has changed in 5 years

Rent

$2,710 → $3,789

up 39.8%

Income

$175,694 → $203,965

up 16.1%

Population

28,201 → 27,534

down 2.4%

Renter share

43.5% → 45%

+1.5 pts

Bachelor's+

69% → 69.4%

+0.4 pts

Median age

40.3 → 39.8

-0.5 yrs

Five years ago, renters in ZIP 94002 in Belmont, CA paid around $2,710 a month. That figure now sits near $3,789, up 39.8% from the 2021 baseline. Household income in the area moved from $175,694 to $203,965 across the same window, up 16.1% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 94002 in Belmont, CA losing about 667 residents over the five-year window, down 2.4% on net. The renter share has risen from 43.5% to 45%, with owner-occupied housing accounting for the remainder. Reading these numbers side by side helps frame whether current listings in ZIP 94002 in Belmont, CA look reasonable against where the market sat half a decade ago.

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About renting in ZIP 94002

Last updated: October 17, 2026

ZIP code 94002 covers Belmont, CA. The median rent here is $3,789/mo as of October 2026. A 1-bedroom rents for a median of $3,260/mo. A 2-bedroom rents for a median of $3,950/mo.

At 22% of local median household income ($203,965/yr), ZIP 94002 ranks as affordable compared to the national benchmark of 30%. Rents have increased 12.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 94002?

To keep rent at or below 30% of gross income, you would need to earn at least $152,000/year (about $73/hour full-time) to afford the median rent of $3,789/mo in ZIP 94002. The local median household income is $203,965/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 94002?

Rent in ZIP 94002 has risen 12.5% over the past year as of September 2026. That is the highest level since Zillow's records here began in December 2018.

When is the cheapest time to rent in ZIP 94002?

Asking rents in ZIP 94002 are usually lowest in January, about 1.2% below their yearly trend, and highest in August, about 1.1% above it. At today's median that is a gap of roughly $87 a month. This pattern comes from 7 years of Zillow rent data.

How does ZIP 94002 compare to other ZIPs in California?

ZIP 94002 is one of the pricier among California ZIP codes for rent, ranking #134 of 898 at $3,789/mo. Over the year to September 2026, rent in ZIP 94002 changed +12.5%, against a typical +3.2% across the 819 California ZIP codes Zillow tracks.