Metro area index
Home appreciation in the San Rafael, CA metropolitan division
FHFA HPI® data shows the San Rafael, CA metropolitan division's all-transactions index changed +3.5% over the year to Q2 2026, versus +0.9% for California and +3.0% for the U.S. That ranks 187th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +3.5%
- 5-year change
- +20.3%
- Since Q1 1995
- +316%
- Metro rank (1 year)
- 187th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
San Rafael, CA vs California and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- San Rafael, CA: 415.7
- California: 488.5
- United States: 391.6
Appreciation by time window
| Window | Metro | CA | U.S. | Gap vs CA | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.5% | +0.9% | +3.0% | +2.6 pts | +0.5 pts |
| 3 years | +4.0% | +7.7% | +12.9% | −3.7 pts | −8.9 pts |
| 5 years | +20.3% | +28.1% | +41.3% | −7.8 pts | −21.0 pts |
| 10 years | +40.7% | +76.2% | +93.3% | −35.5 pts | −52.6 pts |
| Since Q1 1995 | +316% | +388% | +292% | −72.8 pts | +24.2 pts |
3-digit ZIP regions in the San Rafael, CA area
Regions with at least 10% of their 2010 population inside the metro division, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 949 · Petaluma, CA area | CA | +2.7% | +19.9% | +319% | 67% |
Boom, bust, and recovery in San Rafael, CA area
San Rafael, CA area's index peaked in Q2 2006, fell 26.0% to its low in Q2 2011, and regained its peak in Q2 2015, about 9 years after the top. Today it sits +51.0% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q2 2006 | Q2 2011 | -26.0% | Q2 2015 (9 yrs) | +51.0% |
| CA | Q3 2006 | Q1 2012 | -41.0% | Q2 2019 (12.8 yrs) | +50.9% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, San Rafael, CA area's index has changed +87.8% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | CA after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.3% | -2.9% | -0.8% |
| 3 years | +9.8% | -5.3% | -1.9% | +2.8% |
| 5 years | +24.0% | -3.0% | +3.3% | +13.9% |
| 10 years | +39.1% | +1.2% | +26.7% | +39.0% |
| Since Q1 1995 | +121% | +87.8% | +121% | +76.8% |
If you bought in the San Rafael, CA area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +307% | $1,221,479 |
| Q2 2000 | +162% | $786,684 |
| Q2 2005 | +62.2% | $486,704 |
| Q2 2010 | +93.0% | $579,037 |
| Q2 2015 | +50.1% | $450,260 |
| Q2 2020 | +29.8% | $389,266 |
| Q2 2021 | +20.3% | $360,974 |
| Q2 2023 | +4.0% | $311,899 |
| Q2 2025 | +3.5% | $310,540 |
Frequently asked questions
- How much have home prices risen in the San Rafael, CA area?
- FHFA HPI® data for the San Rafael, CA metropolitan division shows changes of +3.5% over one year, +20.3% over five years, and +40.7% over ten years to Q2 2026, and +316% since Q1 1995.
- Is the San Rafael, CA area beating the national average?
- Over the past year the metro's index moved +0.5 pts versus the U.S.; over five years the gap is −21.0 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan division. The index covers the whole area, so individual neighborhoods and homes can differ from it.