Millbrae, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Millbrae Neighborhoods Since 2000




Millbrae, CA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Millbrae Housing Market Information

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%).

Millbrae Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$1,395,079

Millbrae, CA HOME PRICES

Value Range
> $1,399,000 40.7
$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

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
0.521504746279152 5.55555555555556

Number Of Homes And Apartments:
8,152

Millbrae Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
121.48% 4.72% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,841 / per month

Homeownership Rate

Homeownership
Owners 61.14
Renters 38.86
Vacant 5.09

Housing Market Details

 

Age of Homes

AGE OF Millbrae HOMES
2000 or Newer 4.4
1970 - 1999 22.9
1940 - 1969 66.7
1939 or Older 6.0

Types of Homes

TYPE OF Millbrae HOMES
Single-Family 64.4
Townhomes 1.7
Small Apt. Buildings 8.4
Apt. Complexes 25.2
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Millbrae HOMES
No Bedroom 2.82
1 Bedroom 13.16
2 Bedrooms 23.08
3 Bedrooms 40.56
4 Bedrooms 16.38
5 or more bedrooms 4.01