Morgan Hill, CA housing market
The typical Morgan Hill home is worth about $1,321,000, up 2.9% in a year, 73% above the California typical home. Homes typically sell in 13 days, a little above asking.
Home values, sales, trends and how Morgan Hill compares with the towns next door — updated as new data is published.
Morgan Hill at a glance
A seller's market
Supply is tight — about 2.9 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Morgan Hill | California |
|---|---|---|
| 2017 | $756,000 | $453,000 |
| 2018 | $824,000 | $501,000 |
| 2019 | $955,000 | $539,000 |
| 2020 | $935,000 | $551,000 |
| 2021 | $1,032,000 | $607,000 |
| 2022 | $1,221,000 | $703,000 |
| 2023 | $1,235,000 | $727,000 |
| 2024 | $1,285,000 | $758,000 |
| 2025 | $1,332,000 | $782,000 |
| 2026 | $1,325,000 | $767,000 |
| August 2026 | $1,321,000 | $764,000 |
296 new homes permitted in 2025
Builders were permitted 296 new homes in Morgan Hill in 2025: 137 single-family houses and 159 in buildings with two or more homes, worth about $149.3 million to build. That's 6.5 per 1,000 residents, faster than across California (2.7). Over the past 10 years, Morgan Hill has permitted 2,867 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Morgan Hill gained 7,601 residents while 3,088 new homes were permitted: about 2.5 new residents per new home. Building and growth moved roughly in step. Across California: 2.7 new residents per new home.
How Morgan Hill ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 291 | 116 | 175 | $101.7 million |
| 2025 | 296 | 137 | 159 | $149.3 million |
| 2024 | 190 | 190 | 0 | $97.7 million |
| 2023 | 113 | 113 | 0 | $48.9 million |
| 2022 | 924 | 132 | 792 | $164.4 million |
| 2021 | 94 | 86 | 8 | $32.6 million |
| 2020 | 41 | 41 | 0 | $18.4 million |
| 2019 | 199 | 133 | 66 | $59.9 million |
| 2018 | 526 | 216 | 310 | $123.8 million |
| 2017 | 210 | 178 | 32 | $60.9 million |
| 2016 | 274 | 166 | 108 | $73.7 million |
| 2015 | 516 | 253 | 263 | $109.2 million |
| 2014 | 342 | 311 | 31 | $88.1 million |
| 2013 | 336 | 297 | 39 | $81.1 million |
| 2012 | 431 | 254 | 177 | $86.9 million |
| 2011 | 97 | 97 | 0 | $28.5 million |
| 2010 | 157 | 108 | 49 | $40.7 million |
| 2009 | 24 | 24 | 0 | $6.2 million |
| 2008 | 57 | 57 | 0 | $13 million |
| 2007 | 147 | 147 | 0 | $41.8 million |
| 2006 | 204 | 146 | 58 | $53.8 million |
| 2005 | 272 | 264 | 8 | $85.5 million |
| 2004 | 238 | 200 | 38 | $69 million |
| 2003 | 311 | 239 | 72 | $79.5 million |
| 2002 | 229 | 155 | 74 | $56.4 million |
| 2001 | 103 | 103 | 0 | $27.3 million |
| 2000 | 201 | 167 | 34 | $42.1 million |
How Morgan Hill ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Morgan Hill and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Morgan Hill | $1.32M | +2.9% | $2,820 | 296 | $163,920 |
| San Martin | $1.6M | +5.7% | $2,820 | — | $158,250 |
| San Jose | $1.36M | −0.6% | $3,440 | 3,313 | $146,427 |
8.1 years of income
The typical Morgan Hill home costs about 8.1 years of the town's median household income, more than across California (7.7 years).
How Morgan Hill ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $2,820
HUD's Fair Market Rent for a two-bedroom in Morgan Hill is $2,820 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Morgan Hill pay a median of $2,474, so moving in tends to cost more than staying put. A two-bedroom takes about 21% of the town's median household income.
Studio $2,120 · 4 bedrooms $4,060
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (95037, 95046; San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.