Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 22,795, 8,152 total housing units (homes and apartments), and a median house value of $1,395,079, Millbrae house prices are not only among the most expensive in California, Millbrae real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Millbrae, accounting for 64.38% of the city's housing units. Other types of housing that are prevalent in Millbrae include large apartment complexes or high rise apartments ( 25.22%), duplexes, homes converted to apartments or other small apartment buildings ( 8.43%), and a few row houses and other attached homes ( 1.73%).
The most prevalent building size and type in Millbrae are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.14% owning and 38.86% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Millbrae's housing was primarily built during this period, from the '40s through the '60s. A full 66.66% of the city's housing hails from this era. Other housing ages represented in Millbrae include homes built between 1970-1999 ( 22.89%) and housing constructed before 1939 ( 6.03%). There's also some housing in Millbrae built between 2000 and later ( 4.42%).
In the last 10 years, Millbrae has experienced some of the highest home appreciation rates of any community in the nation. Millbrae real estate appreciated 46.96% over the last ten years, which is an average annual home appreciation rate of 3.92%, putting Millbrae in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Millbrae definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Millbrae that despite a nationwide downturn in the housing market, Millbrae real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Millbrae appreciation rates continue to be some of the highest in America, at 7.72%, which is higher than appreciation rates in 85.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Millbrae. Millbrae appreciation rates in the latest quarter were at 2.03%, which equates to an annual appreciation rate of 8.39%.
Importantly, this makes Millbrae one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to California, our data show that Millbrae's latest annual appreciation rate is lower than 50% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Millbrae differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Millbrae - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Millbrae real estate investment or home purchase decisions.
|$1,049,001 - $1,399,000||31.6|
|$699,001 - $1,049,000||19.3|
|$560,001 - $699,000||2.0|
|$420,001 - $560,000||0.9|
|$280,001 - $420,000||1.6|
|$140,001 - $280,000||1.4|
|$70,001 - $140,000||1.5|
|$0 - $70,000||0.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Millbrae HOMES|
|2000 or Newer||4.4|
|1970 - 1999||22.9|
|1940 - 1969||66.7|
|1939 or Older||6.0|
|TYPE OF Millbrae HOMES|
|Small Apt. Buildings||8.4|
|SIZE OF Millbrae HOMES|
|5 or more bedrooms||4.01|