Mountain View, California, is located in the heart of Silicon Valley and has been home to some of the world's most significant technology companies in the past few decades.  The city's dynamic economy and high quality of life have made it an attractive destination for homeowners, renters, and real estate investors.

As of 2023, Mountain View currently has the highest average median rental price for a one-bedroom apartment nationwide, recently surpassing San Francisco’s rent.  

In this comprehensive overview of Mountain View's housing market in 2023, we will delve into the current state of the city's booming real estate market, explore the trends and patterns supporting this, and give a foundational overview of the city for individuals in the market for homes, property management or rental properties.

• Mountain View is the headquarters of the world-famous tech giant Google, which employs over 60,000 people in the city.
• The city's name was inspired by the stunning views of the Santa Cruz Mountains visible from the city.
  

As we examine the Mountain View housing market, we will consider several key factors, including current market trends, median home prices and rents, market inventory, and the impact of the pandemic on the housing market.

By the end of this article, you’ll have a comprehensive understanding of the state of the Mountain View housing market and be better equipped to make informed decisions about buying, managing, or renting a property in the city. Let’s start!

The culture and lifestyle of Mountain View, California

Mountain View, California, is a diverse and vibrant city with a rich culture and many lifestyle amenities. The city's proximity to San Francisco and Silicon Valley's bustling technology hub has made it an attractive destination for young professionals and families.

Mountain View is known for its excellent schools, parks, and recreational facilities, making it ideal for families to settle down. The city is home to several highly rated public schools, including Mountain View High School and Los Altos High School, which consistently rank among the top high schools in the state.

Mountain View nature and outdoor activities

For those interested in outdoor activities, Mountain View offers a variety of options.

• The city has over 37 parks and recreational facilities; view the list on the City of Mountain View site.
• Mountain View is home to the beautiful Shoreline Park, a 750-acre park with a lake, golf course, and hiking trails.
• Mountain view is home to the Stevens Creek Trail, a popular biking and walking trail that connects Mountain View to neighboring communities.
  

Mountain View’s unique cultural attractions

In addition to outdoor activities, Mountain View has a thriving arts and cultural scene.

• Mountain View is also home to Shoreline Amphitheatre, one of the largest outdoor music venues in the Bay Area, which has hosted legendary acts such as the Grateful Dead and U2.
• The city has a thriving culinary scene, with over 300 restaurants and cafes offering various cuisines, from traditional American to international fusion.
• Mountain View is known for its vibrant community events, such as the annual Art & Wine Festival and the weekly Farmers' Market. Residents and visitors can enjoy live music, food, and drinks while browsing local arts and crafts.
• Mountain View City is home to the Mountain View Center for the Performing Arts, which hosts a variety of performances, including plays, musicals, and concerts.
• The city is also home to the Computer History Museum, which showcases the history of computing and technology. This museum is home to one of the world's largest computing artifacts and documents collections, including the first mouse used by Apple co-founder Steve Jobs.
  

Finally, Mountain View has a diverse culinary scene, with various restaurants and cafes offering a range of cuisines, from farm-to-table Californian cuisine to international flavors. The city's popular Castro Street downtown area is home to many dining options, shops, boutiques, and entertainment venues, a popular venue for residents from Mountain and neighboring communities.

Mountain View population demographics

Understanding Mountain View, California's population demographics is important for anyone considering moving to or investing in the city.

As of 2022, the estimated population of Mountain View is around 82,000, according to the U.S. Census Bureau.

Here are some additional key population demographics of Mountain View according to data from the U.S. Census Bureau:

• The median age of residents in Mountain View is 37.4 years old, slightly higher than the national median age of 38.2 years.
• The racial and ethnic makeup of the city is diverse, with 48.4% of residents identifying as White, 33.3% Asian, 2.4% Black or African American, and 18% Hispanic or Latino.
• The median household income in Mountain View is $158,000, which is significantly higher than the national median household income.
• Approximately 72.1% of Mountain View residents hold a bachelor's degree or higher as of 2022.
  

View more detailed demographical data and year-on-year changes for specific categories from this report on Mountain View by point2homes.com.

The city's housing market reflects its diverse population demographics, with a mix of single-family homes, townhouses, and condominiums available for purchase or rent.

Mountain View housing market

The housing market in Mountain View, California, is highly competitive, reflecting the city's desirability as a place to live and work.

Impact of the pandemic on Mountain View housing

The pandemic has significantly impacted the Mountain View housing market. Many residents seek larger homes or outdoor space due to remote work and the desire for more space for at-home activities.

Mountain View homeownership

41% of housing units in Mountain view are owner-occupied, and 59% are renter-occupied households.

• Property Values: According to Zillow, the median home price in Mountain View was around $1.8 million in April 2023. This reflects the city's desirability as a place to live and the strong demand for housing. This represents a decrease of around 8% compared to the previous year.
• Rental Yields: The average rental yield in Mountain View is around 3.5%, according to Mashvisor. The Mountain View cash-on-cash return rate from Mashvisor is around 1% for traditional rental properties, and the rental income is $4,823.
• This indicates that rental properties in the city can be a good investment for landlords. However, high property values can make finding affordable properties with attractive rental yields challenging.

Rental prices in Mountain View

The median price of a one-bedroom in Mountain View is higher than any other city in the Bay Area, according to Zumper’s regional data. Rental prices have been incredibly high recently, with the median rent for a one-bedroom apartment averaging around $3,525 per month, according to Zumper. This represents a staggering increase of around 41% compared to the previous year. Mountain View Rent ranges from $2,500 to $6,000 a month.

The housing market in Mountain View is highly competitive. Apartments here are currently the most expensive in the nation according to median rent, and here are some reasons contributing to the pricing:

• Pandemic aftereffects: One reason for this rapid increase in Mountain View rent might be that high-tech companies require employees to return to the office.
• Limited Inventory: One factor contributing to the high housing prices in Mountain View is the limited inventory of available homes. This is partly due to the city's strict zoning laws and the limited availability of undeveloped land.
• Strong Demand: Despite the high prices, demand for housing in Mountain View remains strong, driven partly by the city's strong economy and desirability as a place to live. Many people are willing to pay a premium to live in the city and enjoy its high quality of life and proximity to major tech companies.
• Luxury Developments: Another key contributor to rising rental costs has been developing new luxury apartments in Mountain View in the past years. Many of the new apartments in this city rent out within a week.
  

However, despite high rent, the city's strong demand and desirability as a place to live and work continue to make it a popular destination for homeowners, rental property landlords, renters, and real estate investors.

Mountain rental market trends

The rental market in Mountain View, California, is highly competitive and reflects the city's popularity as a place to live and work. Here are some key trends that are currently impacting the Mountain View rental market:

• High Demand: The rental market in Mountain View remains highly competitive, driven in part by the city's strong economy and desirable location. Many renters are willing to pay a premium to live in the city and enjoy its high quality of life and proximity to major tech companies.
• Rising Rents: Rental prices in Mountain View have steadily risen in recent years, with the median rent for a one-bedroom apartment averaging around $3,400 monthly, according to RentCafe. This represents an increase of around 2% compared to the previous year.
• Limited Inventory: Like the housing market, the rental market in Mountain View is impacted by the limited inventory of available units. This is partly due to the city's strict zoning laws and the limited availability of undeveloped land.
• Impact of the Pandemic: The pandemic has significantly impacted the rental market in Mountain View. Many renters seek larger apartments or houses with outdoor space due to remote work and the desire for more space for at-home activities.
• New Developments: Despite the limited inventory, several new rental developments are in the works in Mountain View, including mixed-use projects that combine commercial and residential space. These new developments are expected to help alleviate some of the pressure on the rental market in the coming years.
  

While rising rents and limited inventory can pose challenges for renters and rental property landlords, the city's strong demand and new developments are promising signs for the future of the rental market in Mountain View.

Mountain economy and employment demographics

Mountain View, California's economy is primarily driven by the technology industry, with major companies such as Google, LinkedIn, and Intuit headquartered in the city.  Mountain View's population is also relatively young and well-educated. According to the US Census Bureau, around 72% of adults hold a bachelor's degree or higher.

The strong presence of major tech companies in Mountain View has led to a robust job market, with a low unemployment rate and a high median household income from 2017-2021 of around $158,000, according to the US Census Bureau. This makes Mountain View one of the wealthiest cities in the country.

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Besides major tech companies, Mountain View has a growing start-up scene, with many new companies and entrepreneurs setting up shop in the city. This reflects the city's innovative spirit and the desire of many tech professionals to launch their ventures.

According to DataUsa, Mountain View’s economy provides employment opportunities for around 46,300 people. The largest industries are Professional, Scientific, & Technical Services, which employs 11,515 people; Information, with 6,114 employees; and Manufacturing, with 5,983 workers. The highest paying industries in Mountain View are Information, with an average salary of $163,142, followed by Professional, Scientific, & Technical Services, with an average salary of $136,082, and Management of Companies & Enterprises, with an average salary of $132,419.

Between 2019 and 2020, the number of employees in Mountain View, CA, decreased by -2.94%, dropping from 47,700 employees to 46,300 employees. Regarding job groups, the most common occupations in Mountain View are in Computer & Mathematical fields, with 10,143 people working in this area. Management occupations come in second, followed by Business & Financial Operations occupations, with 3,485 people employed in these fields. Check out the chart below from DataUSA for a breakdown of residents' primary jobs in Mountain View, CA.

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The economy of Mountain View is driven by the technology industry and is characterized by a strong job market, a highly educated workforce, and a growing start-up scene. While the pandemic has mildly impacted the city's economy in past years, the strong presence of major tech companies and the city's innovative spirit bode well for the future of the Mountain View economy and employment demographics.

Property management statistics in Mountain View, California

Property management fees in Mountain View typically range from around 8% to 12% of the monthly rental income. These fees can vary depending on the property management company's level of service. Full-service property management typically costs more than basic services such as rent collection and tenant screening.

Doorstead charges 6% for our traditional full-service property management and 8% for our guaranteed rent service.

Short term rentals

Short-term rentals, such as those offered through Airbnb, are legal in Mountain View but are subject to certain restrictions, such as a cap on the number of days a property can be rented out yearly. On the City of Mountain View's site, you can view official guidelines for short-term rental housing (STR) in Mountain View.

Property management is an important aspect of the real estate market in Mountain View, with

Many rental homeowners find professional property management worth the investment for its peace of mind and convenience. See how Doorstead helped turn Bay Area homeowners into passive landlords who can profit from their homes while working full-time.

A strong outlook for Mountain View in 2023 and beyond

Mountain View, California, is poised for strong growth and development in the coming years. Here are some factors that suggest a positive outlook for the city in 2023 and beyond:

• Technology Industry Growth: The technology industry is expected to grow and expand in Mountain View, with major companies such as Google and LinkedIn continuing to invest in the city. This is expected to lead to a strong job market and further growth in property values.
• Infrastructure Investments: Mountain View is investing in infrastructure projects to support growth and development, including the expansion of public transportation and improvements to local roads and highways. This is expected to improve access to the city and further support economic growth.
• Sustainability Efforts: Mountain View has made significant efforts to promote sustainability and reduce its carbon footprint, including a goal to become carbon neutral by 2045. These efforts are expected to improve the quality of life for residents and make the city an even more attractive place to live and work.
• Innovation and Entrepreneurship: Mountain View has a strong culture of innovation and entrepreneurship, with a growing start-up scene and a supportive environment for small businesses. This is expected to drive further growth and development in the city and attract new talent and investment.
  

Mountain View is well-positioned for strong growth and development in 2023 and beyond, thanks to the strength of its technology industry, infrastructure investments, sustainability efforts, and culture of innovation and entrepreneurship. As such, the outlook for Mountain View's housing market is positive, with continued demand for rental and ownership properties.

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