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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Mill Valley, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mill Valley, CA Housing Market Trends

With a population of 14,006, 5,592 total housing units (homes and apartments), and a median house value of $2,545,281, Mill Valley house prices are not only among the most expensive in California, Mill Valley real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Mill Valley, accounting for 71.41% of the city's housing units. Other types of housing that are prevalent in Mill Valley include large apartment complexes or high rise apartments ( 13.31%), row houses and other attached homes ( 7.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.32%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mill Valley. Owner-occupied housing accounts for 65.82% of Mill Valley's homes, and 53.13% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Mill Valley's housing was primarily built during this period, from the '40s through the '60s. A full 45.67% of the city's housing hails from this era. Other housing ages represented in Mill Valley include homes built before 1939 ( 24.72%) and housing constructed between 1970-1999 ( 22.42%). There's also some housing in Mill Valley built between 2000 and later ( 7.19%).

Vacant housing appears to be an issue in Mill Valley. Fully 11.58% of the housing stock is classified as vacant. Left unchecked, vacant Mill Valley homes and apartments can be a drag on the real estate market, holding Mill Valley real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Mill Valley Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Mill Valley, where house values have increased just 33.08%, which is annualized rate of 2.90%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Mill Valley appreciation rates have trailed the rest of the nation. In the last twelve months, Mill Valley's appreciation rate has been 0.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mill Valley were at -0.62%, which equates to an annual appreciation rate of -2.46%.

Relative to California, our data show that Mill Valley's latest annual appreciation rate is lower than 60% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Mill Valley differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mill Valley - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Mill Valley real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$2,545,281

Mill Valley, CA Home Prices
> $946,000
$709,001 - $946,000
$473,001 - $709,000
$378,001 - $473,000
$284,001 - $378,000
$189,001 - $284,000
$95,001 - $189,000
$47,001 - $95,000
$0 - $47,000
87.2%
87.2%
6.5%
6.5%
2.8%
2.8%
0.0%
0.0%
0.3%
0.3%
0.3%
0.3%
0.4%
0.4%
0.0%
0.0%
2.4%
2.4%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

5,592

Mill Valley Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,347 / per month

Homeownership Rate

Owners
Renters
65.8%
65.8%
34.2%
34.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.6%
11.6%
88.4%
88.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.2%
7.2%
22.4%
22.4%
45.7%
45.7%
24.7%
24.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.4%
71.4%
8.0%
8.0%
7.3%
7.3%
13.3%
13.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.7%
2.7%
16.3%
16.3%
19.0%
19.0%
29.9%
29.9%
23.2%
23.2%
8.9%
8.9%
0% 100.0%
% of Homes