Real Estate Investing in San Rafael, California (94903)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 94903 (San Rafael, CA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 32.3 — hard to cash-flow at these prices.
What’s happening in San Rafael, CA (94903)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 94903 San Rafael
From a cash-flow lens, ZIP 94903 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $1.3M median. It rewards specialists, not generalists.
The 94903 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 94903 and stronger San Rafael ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 94903 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Distressed ZIPs reward experience. resilient returns are possible in 94903, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in San Rafael:
Property Strategy for 94903
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $406,160 | $3,450 | 6.1% | -3.4% | $406,160 |
| 2BR | $585,158 | $4,180 | 5.1% | -0.6% | $292,579 |
| 3BR | $1,152,234 | $5,340 | 3.3% | +4.2% | $384,078 |
| 4BR | $1,476,951 | $5,530 | 2.7% | +4.9% | $369,238 |
| 5BR | $1,770,603 | — | — | +5.4% | $354,121 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 94903 Compare?
| Metric | 94903 | San Rafael | San Francisco-Oakland-Berkeley, CA | California |
|---|---|---|---|---|
| Home Value | $1,267,482 | $1,340,484 | N/A | $761,003 |
| 5-Year CAGR | 2.0% | 1.6% | N/A | 5.7% |
| Avg Rent | $3,268 | $3,076 | N/A | - |
| Cap Rate | 2.0% | 1.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 94903 (San Rafael, CA). Anonymous, moderated, never written by AI.
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Property managers serving Marin County
Manage rentals here? List your business →Foundation Homes Property Management provides performance-built property management for luxury homes in Marin County and beyond. summary from their website
Marshall & Co. Property Management offers owner and resident services, including lease-only options, for residential and commercial rentals. summary from their website
PRANDI Property Management is Marin County's only Certified Residential Management Company, focusing on quality tenants and homes. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,267,482 |
| Monthly Rent | $3,268 |
| Price-to-Rent | 32.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 4.0% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +2.0% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 Rent Trends
| 1-Year | -5.6% ▼ |
| 3-Year CAGR | +0.6% ▲ |
| 5-Year CAGR | +2.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 94903
Population: 31,135
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 94903
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,111 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors consider San Rafael, CA?
The 2.0/5 investability rating in San Rafael, CA reflects its $1.3M prices and $3,268/mo rents. Investors generally consider it a solid option within CA.
What kind of tenants rent in San Rafael, CA?
Tenant quality in San Rafael, CA ranks as solid. Landlords generally report stable occupancy at market rents of $3,268/mo.
What do rentals go for in San Rafael, CA?
Average rent in San Rafael, CA is approximately $3,268/mo per month. Against $1.3M home values that yields a reasonable rent-to-price ratio.
Are eviction rules reasonable in San Rafael, CA?
San Rafael, CA falls under CA landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
Are there empty rentals in San Rafael, CA?
San Rafael, CA sees elevated vacancy, which is reasonable relative to the broader CA rental market.
You know 94903 now. You don’t know where it ranks.
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How 94903 ranks in San Francisco-Oakland-Berkeley, CA
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