How much is a home worth in ZIP code 94040?

The typical home in 94040 is worth $2,914,658, based on the Zillow Home Value Index.

Are home values rising in 94040?

Home values in 94040 are up 3.0% over the past year, and up 5.4% a year over five years.

What is the typical rent in 94040?

A typical home in 94040 rents for about $3,945 a month, a gross rental yield of 1.6%.

What is the property tax rate in 94040?

The effective property tax rate in 94040 is 0.6% — roughly $17,522 a year on a typical home.

ZIP code 94040 has a population of 35,632 and a median household income of $187,781.

HousingHandbookReference data

…

U.S. ZIP Code · CA94040

Santa Clara County · San Jose-Sunnyvale-Santa Clara, CA

Typical home value

$2,914,658^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.0%
5-year / yr: +5.4%
10-year / yr: +5.0%

Relative price

vs U.S.: +926.0%
vs metro: +76.3%
vs state: +316.1%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 94040 is worth $2,914,658 — 76.3% above the San Jose-Sunnyvale-Santa Clara, CA median. Over the past year, values have risen 3.0%. Homes here rent for a typical $3,945 a month — a 1.6% gross rental yield. The effective property tax rate is 0.6%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $3,945^[2]
Gross yield: 1.6%^[2]
Cap rate: 1.0%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.6%^[3]
Typical annual tax: $17,522^[3]

#Climate risk

FEMA National Risk Index ratings for Santa Clara County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Very High^[4]
Riverine flood: Very High
Coastal flood: Relatively High
Wildfire: Relatively Moderate
Drought: Relatively High
Heat wave: Relatively High
Hurricane: Not Applicable
Tornado: Relatively Low
Earthquake: Very High
Winter weather: Very Low

#Who lives here

Population: 35,632^[3]
Median household income: $187,781^[3]

#Migration

Household moves in and out of Santa Clara County over a year, from IRS tax-return data.

Net migration: -9,835^[5]
Moved in: 43,577
Moved out: 53,412

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 8
Elementary: 5
Middle: 1
High: 2

Mountain View High
High · Grades 9–12 · Mountain View-Los Altos Union High
2,202 students
Isaac Newton Graham Middle
Middle · Grades 6–8 · Mountain View Whisman
870 students
Amy Imai Elementary
Elementary · Grades K–5 · Mountain View Whisman
398 students
Gabriela Mistral Elementary
Elementary · Grades K–5 · Mountain View Whisman
380 students
Springer Elementary
Elementary · Grades K–6 · Los Altos Elementary
347 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield1.6%

Net yield (after ~40% expenses)1.0%

Annual rent$47,342

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$14,738

Loan principal$2,331,727

Down payment$582,932

Total interest paid$2,973,989

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio4.72

Monthly cost to own$18,624

Monthly rent$3,945

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 65th percentile^[1]
Rental yield: 14th percentile^[2]
Property tax: 9th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 94040?: The typical home in 94040 is worth $2,914,658, based on the Zillow Home Value Index.
Are home values rising in 94040?: Home values in 94040 are up 3.0% over the past year, and up 5.4% a year over five years.
What is the typical rent in 94040?: A typical home in 94040 rents for about $3,945 a month, a gross rental yield of 1.6%.
What is the property tax rate in 94040?: The effective property tax rate in 94040 is 0.6% — roughly $17,522 a year on a typical home.
Who lives in 94040?: ZIP code 94040 has a population of 35,632 and a median household income of $187,781.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

94087 vs 94040 →
Sunnyvale, CA
Typical home
$2,898,235
Gross yield
1.4%
95129 vs 94040 →
San Jose, CA
Typical home
$2,721,588
Gross yield
1.7%
95032
Los Gatos, CA
Typical home
$2,648,629
Gross yield
1.8%
95014
Cupertino, CA
Typical home
$3,182,392
Gross yield
1.5%
94305
Stanford CDP, CA
Typical home
$3,295,415
Gross yield
—
94304
Palo Alto, CA
Typical home
$3,310,286
Gross yield
—

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#Jump to section

U.S. ZIP Code · CA94040

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