menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Millbrae, CA Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Millbrae, CA Housing Market Trends

With 22,071 people, 8,074 houses or apartments, and a median cost of homes of $1,949,991, 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 63.97% of the city's housing units. Other types of housing that are prevalent in Millbrae include large apartment complexes or high rise apartments ( 27.96%), duplexes, homes converted to apartments or other small apartment buildings ( 4.20%), and a few row houses and other attached homes ( 3.55%).

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 60.58% owning and 39.42% 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 61.84% of the city's housing hails from this era. Other housing ages represented in Millbrae include homes built between 1970-1999 ( 21.72%) and housing constructed between 2000 and later ( 9.36%). There's also some housing in Millbrae built before 1939 ( 7.09%).

Millbrae Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Millbrae, where house values have increased just 22.24%, which is annualized rate of 2.03%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Millbrae appreciation rates have trailed the rest of the nation. In the last twelve months, Millbrae's appreciation rate has been 0.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millbrae were at -0.62%, which equates to an annual appreciation rate of -2.46%.

Relative to California, our data show that Millbrae's latest annual appreciation rate is lower than 60% 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

$1,949,991

Millbrae, CA Home Prices
> $986,000
$740,001 - $986,000
$493,001 - $740,000
$395,001 - $493,000
$296,001 - $395,000
$197,001 - $296,000
$99,001 - $197,000
$49,001 - $99,000
$0 - $49,000
90.0%
90.0%
3.7%
3.7%
0.8%
0.8%
0.3%
0.3%
0.4%
0.4%
1.1%
1.1%
1.8%
1.8%
0.0%
0.0%
1.9%
1.9%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

8,074

Millbrae Appreciation Rates

Rent & Ownership

Average Market Rent:

$5,109 / per month

Homeownership Rate

Owners
Renters
60.6%
60.6%
39.4%
39.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.0%
6.0%
94.0%
94.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.4%
9.4%
21.7%
21.7%
61.8%
61.8%
7.1%
7.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
64.0%
64.0%
3.5%
3.5%
4.2%
4.2%
28.0%
28.0%
0.1%
0.1%
0.3%
0.3%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.8%
2.8%
10.8%
10.8%
26.0%
26.0%
37.8%
37.8%
18.6%
18.6%
4.1%
4.1%
0% 100.0%
% of Homes