The story of this market
The typical home in ZIP 94002 sells for about $2,293,019, or $1,455 per square foot.
Prices are up +3.6% from a year ago, so sellers still have some momentum. Homes take about 10 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $4,500 a month.
ZIP 94002 — Belmont
The 94002 housing market remains highly competitive with a median sale price exceeding $2.2M and a very low months-of-supply figure. High demand from tech-sector professionals and limited inventory continue to drive prices upward, as evidenced by the 107% sale-to-list ratio. Market conditions are characterized by rapid sales and minimal price concessions.
This ZIP is ideal for affluent families and tech-sector commuters seeking high-quality schools and a suburban environment with easy access to major employment hubs.
Median prices moved up 3.6% year over year.
Homes spend a median of 10 days on market with 0.3 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 107% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.8% · poverty 6.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 94002, San Mateo County CA
The area is served by highly-rated public schools within the Belmont-Redwood Shores School District and Sequoia Union High School District.
The region faces moderate wildfire risk common to the San Francisco Peninsula hills and standard seismic hazard protocols.
The area benefits from proximity to major Silicon Valley tech employers and ongoing residential infill development.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (California) — Mello-Roos Community Facilities Act Special Parcel Tax Assessment: Levies an annual direct, non-ad valorem special tax directly on the parcel's secured property tax bill to fund designated community infrastructure (e.g., roads, sewer facilities, school facilities, emergency services) and repay municipal debt bonds. State (California) — California Homeowners' Property Tax Exemption: Reduces the taxable assessed value of the qualifying owner-occupied principal residence by $7,000 against the county assessment roll, generating a direct tax savings of approximately $70 annually (computed as $7,000 × 1% base rate). State (California) — California Proposition 13 Ad Valorem Real Property Tax: Establishes a base ad valorem tax rate capped at 1.0% of assessed value plus voter-approved local indebtedness and direct assessments (typically resulting in an effective tax rate of 1.1% to 1.25%).
Residents have convenient access to the Caltrain corridor and Highway 101 for commuting to San Francisco and major Silicon Valley employment hubs.
The ZIP features extensive access to the San Francisco Bay Trail, local parks like Twin Pines Park, and proximity to regional open space preserves.
The rental market is characterized by high demand and low vacancy rates, driven by the area's proximity to major tech employment centers.
The local economy is heavily integrated into the broader Silicon Valley tech ecosystem, with significant employment in software, biotechnology, and professional services.
The area is served by the Caltrain commuter rail line and major arterial roads including Highway 101 and I-280.
Development activity is primarily focused on residential infill and the modernization of existing commercial corridors.
Parcels are subject to standard county property tax levies and specific school district bond measures.
Property insurance premiums are rising due to regional wildfire risk and broader California market volatility.
Data retrieved from US Census Bureau ZCTA-level tables and World Population Review.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A central community park featuring trails, picnic areas, and historic buildings.
A large open space area popular for hiking and mountain biking.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).