The story of this market
The typical home in ZIP 94028 sells for about $4,622,234, or $1,644 per square foot.
Prices are up +10.7% from a year ago, so sellers still have some momentum. Homes take about 15 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $3,790 a month.
ZIP 94028 — Portola Valley
The Portola Valley market remains highly exclusive with very low inventory and high price points, driven by demand for luxury estates and rural privacy. While median prices show year-over-year growth, sales volume is extremely low, reflecting the unique and tightly held nature of the local housing stock. Rental data is insufficient for a meaningful market analysis.
This ZIP is best suited for high-net-worth individuals, families seeking privacy and top-tier schools, and those who value a rural, low-density lifestyle while remaining within reach of Silicon Valley tech hubs.
Median prices moved up 10.7% year over year.
Homes spend a median of 15 days on market with 3.5 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 99% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 2.1% · poverty 2.8% — 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 7.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 94028, San Mateo County, CA
Portola Valley is characterized by very low crime rates, consistent with its status as a secluded, affluent residential community.
The area is served by highly-rated public schools, including the Portola Valley School District, and is noted for access to elite private educational institutions.
The region faces significant wildfire risk due to its rural, wooded terrain, which influences local property insurance availability and premiums.
Development is strictly limited by local ordinances focused on preserving open space and rural character, with minimal new commercial or high-density residential growth.
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 primarily commute via Interstate 280, providing access to major employment hubs in Palo Alto, Menlo Park, and the broader Silicon Valley.
The area features extensive open space preserves, hiking and equestrian trails, and proximity to high-end shopping and dining in neighboring Palo Alto and Los Altos.
The rental market is extremely limited with very low inventory, making it difficult to establish a representative median rent trajectory.
The local economy is residential and service-oriented, with residents largely employed in the technology and professional sectors of the nearby Silicon Valley.
Transportation is heavily reliant on private vehicles, with Interstate 280 serving as the primary arterial corridor for regional access.
Development is highly restricted by town planning policies that prioritize the maintenance of rural, low-density residential zoning.
The San Mateo County Assessor manages property valuations in accordance with California's Proposition 13 tax assessment framework.
Parcels are subject to local school district taxes and various special utility and fire protection district assessments.
Property insurance is a significant concern due to high wildfire hazard ratings, leading to increased premiums and limited carrier options.
Data retrieved from data.census.gov; values capped at reporting limits.
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 major regional preserve offering extensive hiking and equestrian trails with panoramic views.
A central hub for local government and community events, designed with sustainable architecture.
Key-figure check: median price diverges 32.6% from the nearest retained anchor (published ten-year series (2025)) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Research outlier held out — this pass returned a median of $6,130,000 (32.6% off the retained reading), contradicting every independent anchor; the prior reading stands pending corroboration. Validation: the flagged $6,130,000 (+32.6% vs the published ten-year series (2025)) failed independent re-validation and was reverted to the prior cycle value; the case is under review in the Command Center.