Morgan Hill real estate market overview
- Average Monthly Rent: $2,792
- Home Price/Value Percentage Change: -4.20%
- Median Home Value: $1,279,144
- Best Time To Sell a Home: July
- Affordability Index: Low
- Days To Sell a House: 44
- Job Market: Fair
- Public School Ranking: 40
Location and weather
Morgan Hill is in southern Santa Clara Valley, 12 miles south of San Jose and 15 miles inland from the Pacific Coast. It is surrounded by the Santa Cruz mountains to the west, and the Diablo mountains to the east. Morgan Hill is in a valley and has many parks and green spaces for exceptional outdoor recreation activities including cycling, hiking routes and golf courses. It has a charming, small town atmosphere with boutique retail shops and farm-to-table restaurants.
In Morgan Hill the summers are warm and long, and the winters are cold and wet. The high summer temperatures are in the mid-80's with lows in the mid-50's. The winter temperature highs are in the low 60's with lows in the high 30's.
Population, job market and cost of living
Morgan Hill's population in 2023 is 47,763 with a growth rate of 1.62%.
Located at the southern end of Silicon Valley, the job growth has decreased by -7.07% over last year. Ten-year future predicted job growth is 45.06%. The largest industries are Manufacturing, Retail Trade, Professional, Scientific & Technical Services. The largest employers are Anritsu, Specialized Bicycle Components, Morgan Hill Unified School District, Toray Advanced Composites and Custom Chrome. South Silicon Valley is providing much of the workforce housing for Silicon Valley.
The cost of living is high due to the Morgan Hill real estate community and high cost of housing. However, the average rent is 51% less than other cities in Silicon Valley. With its scenic location, mild climate, Silicon Valley job opportunities and job growth, increased housing construction and many outdoor recreational opportunities, Morgan Hill will continue to attract young tech professionals and their families.
Morgan Hill real estate market details
- Blossom Valley
- Almaden Valley
- Santa Teresa
- Seven Trees
There has been a -4.2% decrease in median home value over the last year. As of 2023, the median home value is $1,279,144.
The best time to sell a home for the highest valued sale is during July. For the quickest sale, homeowners should sell in May.
The affordability index in Morgan Hill is 212. This number indicates low affordability in this city.
The top ranked public schools are Ann Sobrato High School, Charter School of Morgan Hill, Barrett Elementary School, Central High and El Toro Health Science Academy. This information is based on data measuring academic performance and equity.