Redwood City, California Housing Market

What stands out in Redwood City?

• The typical listing has been on the market 30 days: among the shortest listing ages of 765 tracked cities. Few listings sit for long. Have financing ready before you look.
• The median asking price is $1,739,637: one of the priciest of 765 tracked cities. Entry costs are high, so cash flow is harder. Price growth has to do more of the work.
• The median household earns $167,746 a year: among the highest incomes of 765 tracked cities. Tenants can carry higher rents.

Are Redwood City price gains broad or limited to a few ZIP codes?

Asking price per square foot in Redwood City is up 3.4% over the last year. 2 of the 4 ZIP codes with at least 10 listings rose. 94062 led at up 14.2%, and 94061 trailed at down 4.7%. The gains are uneven. Price each ZIP on its own trend. Over five years the pace has been 1.2% a year. Underwrite closer to that than to the last twelve months.

What does a shrinking population mean for Redwood City landlords?

The population in Redwood City's ZIP codes fell 5.1% over five years. 7.0% of homes are vacant, higher than 53% of tracked cities. Households fell 3.6% while the housing stock changed -0.5%. Fewer households means a thinner tenant pool. Budget extra vacancy and buy where renters already concentrate.

Is now a good time to buy in Redwood City?

The median asking price is 55.6% below its Dec 2017 peak. Per square foot the gap is smaller: 5.2% below the Feb 2023 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Redwood City prices rose in only 73 of the last 111 months. This market goes up and down. Timing matters here. Growth will not rescue a bad price.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

How does Redwood City compare with other California markets?

Ranked among the 141 California markets we track:

• Asking price: 10th priciest of 141. Redwood City is at $1,739,637. Closest: Irvine and Santa Monica.
• Buyer competition: 37th most competitive of 138. Redwood City is at 0.46 buyers per home. Closest: Vista and San Mateo.
• Time on market: 3rd shortest time on market of 141. Redwood City is at a median of 30 days on market. Closest: Danville and San Mateo.
• Price cuts: 27th fewest price cuts of 141. Redwood City is at 15% of sellers cutting. Closest: San Bernardino and Pomona.

What is the fair market rent in Redwood City?

HUD sets one fair market rent for San Mateo County. For fiscal year 2026:

• 1 bedroom: $2,977 a month. Up 7% on last year, up 64% since FY2016.
• 2 bedrooms: $3,604 a month. Up 9% on last year, up 57% since FY2016.
• 3 bedrooms: $4,604 a month. Up 11% on last year, up 54% since FY2016.
• 4 bedrooms: $4,772 a month. Up 8% on last year, up 34% since FY2016.

The figures include tenant-paid utilities and apply to all of San Mateo County, so one home's rent can sit well above or below them. See fair market rent by city.

How much can you negotiate in Redwood City?

For every 100 homes still for sale, 46 are under contract. In 2017–2019 at this time of year it was 59. The rest are still waiting for a buyer. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing.

The typical Redwood City listing has been on the market 30 days. That is 8% shorter than a year ago. There are 109 homes for sale in Redwood City. That is 3.2 times the tightest month on record, but below the peak of 166. Supply is shrinking against last year.

What to do about it

• Judge each listing on its own.
• Homes listed 60+ days ago with a price cut are where your discount is.
• Fresh, well-priced homes will not move on price. Do not waste offers on them.

What numbers should you underwrite a Redwood City deal with?

• Price growth to assume — +1.2%/yr. Redwood City has grown about 1.2% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices rose 3.4% over the last year. Use it for timing. The five-year rate is the better guide.
• Odds you cut your price to sell — 1 in 7. 15% of Redwood City listings have cut their asking price. Underwrite your exit below asking.
• Competition when you exit — -12%. Homes for sale in Redwood City are down 12% on last year, so your resale faces less competition than today's comps did.

Read cash flow versus appreciation and how we read these numbers, then run the numbers on a deal.

What is the median home price in Redwood City?

The median asking price in Redwood City is about $1,740,000 as of Sep 2026, down 10.6% from a year ago. The typical listing is 9% smaller than a year ago, and asking price per square foot is up 3.4%. So the size of homes on the market explains much of the drop. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Redwood City figures cover the 5 ZIP codes with a Redwood City mailing address, which can reach past city limits.

Is Redwood City a buyer's or seller's market in 2026?

Neither side has the upper hand in Redwood City right now. We compare Redwood City with 2017–2019 at this time of year: there are 46 pending sales per 100 listings, against 59 then; the typical listing has been up 11% fewer days; 15% of sellers have cut their price, against 16% then.

Are Redwood City home prices going up or down?

The median asking price is 55.6% below its Dec 2017 peak. Per square foot the gap is smaller: 5.2% below the Feb 2023 high. Part of the drop is smaller homes coming to market. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.

Is Redwood City a renters' market or an owners' market?

In Redwood City, 47 out of every 100 households rent. That is nearly half. The renter share is growing. Five years ago it was 45 in 100. 7.0% of homes sit empty. That is normal for a healthy market.

What rent can Redwood City tenants afford?

At 30% of income, a tenant on the median income can pay about $4,194 a month. The median Redwood City household earns $167,746 a year.

What is the best month to buy a house in Redwood City?

Across 9 full years, Redwood City asking prices ran lowest in January, about 4.1% below the year's average. They peaked in December. The most homes for sale show up in October, about 31% above the yearly average.

What price growth should I assume for Redwood City?

Assume +1.2% a year. Redwood City has grown about 1.2% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices rose 3.4% over the last year. Use it for timing. The five-year rate is the better guide.

What is the fair market rent in Redwood City?

HUD's fiscal year 2026 fair market rent for San Mateo County is $3,604 a month for 2 bedrooms and $4,604 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.