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The average rent in San Mateo County for a one-bedroom apartment is over $1,600 and a two-bedroom apartment is over $2,100.
Source: Rent.com, February 2008.
To afford* a over $1,600 monthly rent, your annual income must exceed $60,000.
*Affordable is defined as consuming 30 percent or less of your income.
A study of housing in our County shows that by the year 2010, there will be demand for 16,000 to 25,000 units of housing beyond what would be available if all local jurisdictions build all the units they plan in their housing elements during the period.
Source: San Mateo County General Plan Housing Element, 2003
Lower End of Rental Market Most Affected
The same study shows that almost all of the 21,000 unit shortfall will be for those with modest incomes (family of four with income below $56,000 per year seeking to rent).
Source: San Mateo County Housing Needs Analysis, 1998
The median sale price of a house in San Mateo County in December, 2007 was $733,000.
Source: San Mateo County Association of Realtors, January 2008.
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