Total monthly cost of ownership
Cost to Own a Home in South San Francisco, California
A $1,160,000 home here costs
$8,274per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $354,500 a year.
A standard mortgage calculator would have told you $6,324. The real number is $1,950 higher every month, 31% more than the payment most buyers budget for.
Compare San Mateo County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
South San Francisco against San Mateo County and California
| Measure | South San Francisco | San Mateo County |
|---|---|---|
| Median home value | $1,160,100 | $1,494,500 |
| Median property tax | $7,030 | $9,167 |
| Effective tax rate | 0.606% | 0.613% |
| Median gross rent | $2,833 | $2,893 |
| Population | 64,487 | 745,100 |
The weather behind that power bill
South San Francisco sits in San Mateo County, which averages a high of 66.4°F in its hottest month and a low of 42.9°F in its coldest, with 26.04" of precipitation a year and 57% of it in a single three-month stretch. That climate drives 12 cooling and 3,701 heating degree days, which is what sets the $150 electricity line above.
See the full climate breakdown for San Mateo County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in San Mateo County
Full San Mateo County cost breakdown · Every county in California
Talk to someone who works this market
These are South San Francisco averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works South San Francisco every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in South San Francisco I already own here and may sell
Common questions
How much does it cost to own a home in South San Francisco?
A $1,160,000 home in South San Francisco, California costs approximately $8,274 per month with 20% down at 7.24%. That is $6,324 principal and interest, $586 property tax, $180 homeowners insurance, $218 utilities and $967 set aside for maintenance.
What is the property tax rate in South San Francisco?
South San Francisco has an effective property tax rate of 0.606%, based on a median home value of $1,160,100 and median real estate taxes of $7,030. That is in line with the San Mateo County average of 0.613%.
What is the average home price in South San Francisco?
The median owner-occupied home value in South San Francisco, California is $1,160,100, against $1,494,500 across San Mateo County.
Is it cheaper to rent or buy in South San Francisco?
Median gross rent in South San Francisco is $2,833 a month, against $8,274 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in South San Francisco?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in South San Francisco, California at today's rate takes a household income of roughly $354,500 a year. That covers the full $8,274 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for South San Francisco, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for California.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.