How much is a home worth in ZIP code 94123?

The typical home in 94123 is worth $2,351,632, based on the Zillow Home Value Index.

Are home values rising in 94123?

Home values in 94123 are up 9.9% over the past year, and up 1.1% a year over five years.

What is the typical rent in 94123?

A typical home in 94123 rents for about $4,310 a month, a gross rental yield of 2.2%.

What is the property tax rate in 94123?

The effective property tax rate in 94123 is 0.8% — roughly $17,989 a year on a typical home.

ZIP code 94123 has a population of 24,054 and a median household income of $218,603.

HousingHandbookReference data

…

U.S. ZIP Code · CA94123

San Francisco County · San Francisco-Oakland-Fremont, CA

Typical home value

$2,351,632^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +9.9%
5-year / yr: +1.1%
10-year / yr: 0.0%

Relative price

vs U.S.: +727.8%
vs metro: +88.0%
vs state: +235.7%

Price history

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

The typical home in 94123 is worth $2,351,632 — 88.0% above the San Francisco-Oakland-Fremont, CA median. Over the past year, values have risen 9.9%. Homes here rent for a typical $4,310 a month — a 2.2% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

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

Monthly rent: $4,310^[2]
Gross yield: 2.2%^[2]
Cap rate: 1.3%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $17,989^[3]

#Climate risk

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

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

#Who lives here

Population: 24,054^[3]
Median household income: $218,603^[3]

#Migration

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

Net migration: -913^[5]
Moved in: 33,627
Moved out: 34,540

Schools

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

Public schools: 4
Elementary: 3
Middle: 1
High: 0

Lilienthal (Claire) Elementary
Elementary · Grades K–8 · San Francisco Unified
670 students
Marina Middle
Middle · Grades 6–8 · San Francisco Unified
654 students
Sherman Elementary
Elementary · Grades K–5 · San Francisco Unified
282 students
Tule Elk Park Children Center
Elementary · Grades K · San Francisco Unified
89 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 yield2.2%

Net yield (after ~40% expenses)1.3%

Annual rent$51,715

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$11,891

Loan principal$1,881,305

Down payment$470,326

Total interest paid$2,399,501

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 ratio3.56

Monthly cost to own$15,340

Monthly rent$4,310

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: 47th percentile^[1]
Rental yield: 12th percentile^[2]
Property tax: 58th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 94123?: The typical home in 94123 is worth $2,351,632, based on the Zillow Home Value Index.
Are home values rising in 94123?: Home values in 94123 are up 9.9% over the past year, and up 1.1% a year over five years.
What is the typical rent in 94123?: A typical home in 94123 rents for about $4,310 a month, a gross rental yield of 2.2%.
What is the property tax rate in 94123?: The effective property tax rate in 94123 is 0.8% — roughly $17,989 a year on a typical home.
Who lives in 94123?: ZIP code 94123 has a population of 24,054 and a median household income of $218,603.

#Comparable ZIPs

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

94002 vs 94123 →
Belmont, CA
Typical home
$2,364,911
Gross yield
1.6%
94904 vs 94123 →
Kentfield CDP, CA
Typical home
$2,276,411
Gross yield
—
94539
Fremont, CA
Typical home
$2,257,200
Gross yield
2.0%
94070
San Carlos, CA
Typical home
$2,474,298
Gross yield
2.1%
94402
San Mateo, CA
Typical home
$2,478,819
Gross yield
1.8%
94939
Larkspur, CA
Typical home
$2,201,589
Gross yield
2.0%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 94123 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · CA94123

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