Downtown San Mateo renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Downtown San Mateo is about $2,647 per month. This puts it in the 86th percentile compared to the city average cost of rent, which is $2,895. Households in Downtown San Mateo have a median income of $9,098 per month so the average renter in Downtown San Mateo is spending roughly 29% of their earnings on housing.
Nationally, and in Downtown San Mateo, home values are the data point most closely correlated with the cost of rent. The median price of a home in Downtown San Mateo is $1,096,666 right now, which is lower than nearby neighborhoods, meaning that rents in Downtown San Mateo also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the eastern parts of Downtown San Mateo while lower rent rates are often available in western areas.
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