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San Jose real estate market overview
- Average Monthly Rent: $2,939
- Home Price/Value Percentage Change: -3.90%
- Median Home Value: $1,292,395
- Best Time To Sell a Home: April
- Affordability Index: Low
- Days To Sell a House: 36
- Job Market: Fair
- Public School Ranking: 40
Location and weather
San Jose is in the Santa Clara Valley at the southern tip of San Francisco Bay, 48 miles south of San Francisco and 40 miles south of Oakland. The area is known as the Southern Peninsula. San Jose is the center of a large and expanding metropolitan area, bordered by the Santa Cruz Mountains on the west and the Diablo Mountain range on the east. The Coyote and Guadalupe rivers run through the city. Known as the capital of Silicon Valley, San Jose is quickly growing as tech companies need more talent.
San Jose has the typical mild west coast climate. The summers are mild, with high temperatures in the high 70's and lows in the 60's. The winters are short, with high temperatures in the low 60's and lows in the 40's.
Population, job market and cost of living
Named as the fastest growing county in California, San Jose's growth comes from young tech workers who are attracted to the region of Silicon Valley. San Jose's population in 2023 is 1,033,430, with a growth rate of 0.66%.
The job growth has decreased by 2.58% over the last year and in ten years, is predicted to be 38.89%. The major industries are Professional, Scientific, and Technical Services related to Computer and Electronic Products. It is home to over 6,600 technology companies including Adobe, Cisco, Brocade, Netflix, eBay, PayPal, Sun Power and TiVo.
The cost of living is high, due to the San Jose real estate market and competition for housing. With San Jose's mild climate and picturesque location, growing tech industry, outdoor and cultural activities, and proximity to San Francisco, it will continue its growth and reputation as the Silicon Valley place to live and work.
San Jose real estate market details
- Downtown San Jose
- Silver Creek
- The Village
- Fairgrounds
- Seven Trees
The average monthly rent in San Jose is $2,939 for an average apartment size of 883 sq. feet.
There has been a -3.9% decrease in median home value over the last year. As of 2023, the median home value is $1,292,395.
On average, homes in San Jose sell after 36 days on the market.
The best time to sell a home for the highest valued sale is during April. For the quickest sale, homeowners should sell in May.
The affordability index in San Jose is 215. This number indicates low affordability in this city.
The top ranked public schools are Lynbrook High School, University Preparatory Academy Charter, Evergreen Valley High School, Leigh High School and Leland High School. This information is based on data measuring academic performance and equity.