Newly Built, Affordable Homes On The Water Are In Foster City (2024)

Searching for the ultimate blend of newly built modern homes, affordability, and a family-friendly atmosphere on the peninsula? Foster City is a super popular spot catering to families and first-time homebuyers alike. Here, you'll find the newest homes on the peninsula, including single-family homes, condos, and townhomes. Foster City is one of the only master-planned communities in the North Peninsula, with the other being nearby Redwood Shores, just to the south.

In this video, I'm going to show you why I think Foster City is awesome, what it's like to live here, and what it costs. Foster City is centrally located on the peninsula, making it ideal for those who work in Silicon Valley, the North Peninsula, South San Francisco, or even San Francisco itself. Personally, I wouldn't want to be any farther south if I worked in San Francisco.

Foster City is a town of about 34,000 people in the heart of San Mateo County, 25 miles south of San Francisco. It's the newest town on the peninsula, having been incorporated in 1971, and the first new homes in the 1960s sold for a whopping $18,000. Foster City has a ton of waterways, parks, and a really awesome community feel that draws people to buy here. The homes here have excellent floor plans since they're relatively new compared to most homes west of 101.

Foster City does not have its own downtown like Burlingame, San Mateo, and San Carlos, but it does have a couple of shopping areas, and you're within a few minutes' drive of everything you could possibly need. Foster City even has its own Costco, and it's just across the way from Bridgepoint Shopping Center. Some major companies are headquartered here, including Gilead Sciences with about 7,000 employees, Visa worldwide headquarters with about 2,800 employees, and the self-driving car startup Zoox with about 1,400 employees. Recently, the billion-dollar AI unicorn Replit announced it was moving from San Francisco to Foster City because it's more livable, according to the CEO.

I'm Raziel Ungar, and I've ranked in the top five agents in San Mateo County. Every day, my team and I help buyers and sellers just like you, looking to make a smooth move into or within San Mateo County. I'd love to be your Peninsula real estate resource. Feel free to shoot me a text or give me a call to answer any questions that you might have.

So, what's it like to live here? First of all, the outdoor recreation options are stellar. With 24 parks in Foster City, there's more parks per capita than any other city on the peninsula. The biggest soccer and baseball tournaments in the North Peninsula are often hosted in Foster City because of the number of parks.

What's also awesome about Foster City is that it's surrounded by a massive 218-acre manmade enclosed lagoon system surrounded by residential homes, open for swimming and water sports like paddleboarding and kayaking all year round, though less so in the winter. I've done it many times with my son and friends, and it's super awesome. You can also canoe around town, but you're not allowed to have gas or diesel-powered craft.

Why are there so many lagoons? They were initially designed as a drainage system required to efficiently drain the city. The average depth of all these lagoons is about six feet, and the water level is raised in the summer and lowered in the winter to accommodate anticipated storm water. The lagoon water is blue because of environmentally safe pond dye added to prevent aquatic weeds from growing. Foster City has two boat ramps at Boat Park and Leo Ryan Park, although small boats can be launched from almost any location in town. Boat Park is a cool spot for stand-up paddleboarding, and on weekends, you'll see folks in dragon boats too. Foster City also has six dog parks, including one with turf, making it accessible even when wet or raining.

Foster City is home to its own nine-hole golf course and driving range at Mariner's Point, a great place to work on your golf game. Leo Ryan Park is the most popular place to play pickleball in town and hosts the annual 4th of July fireworks show, pancake breakfast, and dog parade. Other big parks include Sea Cloud Park, known as the sporting gem of the peninsula with 23 acres of baseball diamonds, soccer fields, a snack shack, and batting cages. There's also Edgewater Park and Catamaran Park.

The Bay Trail offers a 12-mile loop beginning in Redwood Shores, looping around Foster City, and returning along the Marina Lagoon. It's easily accessible from any point along the route and is great for biking from Burlingame to Redwood Shores and beyond, with the Foster City stretch being the best part as it's right on the water with good views and elevated above the levee.

Speaking of levees, let's talk about sea level rise. Foster City is on reclaimed land, highly compacted fill, or engineered landfill. In 2014, the U.S. Army Corps of Engineers warned that the city would be classified as a flood risk unless the levee was improved. To avoid forcing all homeowners to buy costly flood insurance, a $90 million bond was passed in 2018 to improve the levee with fortified plates of corrugated steel and raise it six feet taller. This levee system is designed to combat sea level rise and save homeowners money while enhancing the Bay Trail.

Foster City is at the top of many families' lists because of the schools. There are three public elementary schools and one middle school, Bowditch. However, there's no high school in Foster City, so kids typically attend San Mateo, Aragon, or Hillsdale High Schools in San Mateo, which is a bit of a drive. Foster City also has two private schools: the Wornick Jewish Day School (K-8) and Kids Connection (K-5). Wornick is on the campus of the PJC, a huge facility with a gym, indoor and outdoor pools, workout areas, and plenty of space.

Now let's talk about real estate. The floor plans in Foster City are generally better than most other towns west of 101 because they're newer. The homes have spacious floor plans, usually open concept, excellent natural light, and almost always an attached two-car garage. The kitchen usually opens up to the yard, which is a huge plus.

In Foster City, there are about 6,600 homes and 2,200 condos and townhomes, offering a variety of housing types. You can find a waterfront home of 3,000 sq. ft., a starter home of 1,300 sq. ft., or townhomes with attached garages as large as 1,700 sq. ft. The average price per square foot is attractive at about $1,100, similar to the county average and comparable towns like San Mateo. For more expensive towns like Burlingame, it's about $1,346 per square foot.

In the past year, the median home price in Foster City was a little over $2.3 million, with townhomes at $1.4 million and condos at $1.1 million. For context, the median home price in San Mateo County last year was $1.8 million, San Mateo city was about the same, and Burlingame was about $2.7 million.

Foster City has nine neighborhoods, all of which are flat, walkable, and tree-lined. Streets are close to parks, making it easy for walking, biking, or taking your dog out. No matter where you live in Foster City, you can drive easily and have convenient freeway access to 101 and 92.

If you'd like to learn more about neighboring cities in San Mateo County, watch these videos. If you're considering a move within or to San Mateo County, give me a call or send me an email. My contact info is below.

Newly Built, Affordable Homes On The Water Are In Foster City (2024)

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