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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.



Morgan Hill, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Morgan Hill, CA Housing Market Trends

With 44,973 people, 14,721 houses or apartments, and a median cost of homes of $1,229,959, Morgan Hill house prices are not only among the most expensive in California, Morgan Hill 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 Morgan Hill, accounting for 59.83% of the city's housing units. Other types of housing that are prevalent in Morgan Hill include row houses and other attached homes ( 16.68%), large apartment complexes or high rise apartments ( 12.75%), and a few mobile homes or trailers ( 6.65%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morgan Hill. Owner-occupied housing accounts for 71.90% of Morgan Hill's homes, and 62.43% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Morgan Hill built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Morgan Hill built between 2000 and later ( 28.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.19%). There's also some housing in Morgan Hill built before 1939 ( 1.52%).

Morgan Hill Home Appreciation Rates

Appreciation rates for homes in Morgan Hill have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.18%, which ranks in the top 40% nationwide. This equates to an annual average Morgan Hill house appreciation rate of 6.86%.

NeighborhoodScout's data show that during the latest twelve months, Morgan Hill's appreciation rate, at 4.67%, has been at or slightly above the national average. In the latest quarter, Morgan Hill's appreciation rate has been 5.02%, which annualizes to a rate of 21.62%.

Importantly, this makes Morgan Hill 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 Morgan Hill's latest annual appreciation rate is higher than 90% 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 Morgan Hill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morgan Hill - 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 Morgan Hill real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,229,959

Morgan Hill, CA Home Prices
> $1,298,000
$974,001 - $1,298,000
$649,001 - $974,000
$519,001 - $649,000
$389,001 - $519,000
$260,001 - $389,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
39.5%
39.5%
34.0%
34.0%
15.4%
15.4%
2.5%
2.5%
2.2%
2.2%
1.3%
1.3%
2.4%
2.4%
1.4%
1.4%
1.2%
1.2%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

14,721

Morgan Hill Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,897 / per month

Homeownership Rate

Owners
Renters
Vacant
71.9%
71.9%
28.1%
28.1%
3.1%
3.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.6%
28.6%
60.6%
60.6%
9.2%
9.2%
1.5%
1.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
59.8%
59.8%
16.7%
16.7%
3.7%
3.7%
12.8%
12.8%
6.6%
6.6%
0.4%
0.4%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.6%
1.6%
5.2%
5.2%
22.3%
22.3%
30.4%
30.4%
32.0%
32.0%
8.5%
8.5%
0% 100.0%
% of Homes