San Jose, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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San Jose, CA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

San Jose Housing Market Information

With a population of 1,035,317, 319,558 total housing units (homes and apartments), and a median house value of $941,977, San Jose house prices are not only among the most expensive in California, San Jose real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in San Jose, accounting for 53.38% of the city's housing units. Other types of housing that are prevalent in San Jose include large apartment complexes or high rise apartments ( 25.35%), row houses and other attached homes ( 11.06%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.76%).

The most prevalent building size and type in San Jose are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.66% owning and 43.34% renting.

There is a lot of housing in San Jose built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in San Jose built between 1940-1969 ( 33.59%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.86%). There's also some housing in San Jose built before 1939 ( 5.18%).

San Jose Home Appreciation Rates

In the last 10 years, San Jose has experienced some of the highest home appreciation rates of any community in the nation. San Jose real estate appreciated 77.36% over the last ten years, which is an average annual home appreciation rate of 5.90%, putting San Jose in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, San Jose definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in San Jose that despite a nationwide downturn in the housing market, San Jose real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, San Jose appreciation rates continue to be some of the highest in America, at 13.38%, which is higher than appreciation rates in 99.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in San Jose. San Jose appreciation rates in the latest quarter were at 1.48%, which equates to an annual appreciation rate of 6.04%.

Relative to California, our data show that San Jose's latest annual appreciation rate is higher than 90% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within San Jose differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in San Jose - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best San Jose real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$941,977

San Jose, CA HOME PRICES

Value Range
> $1,389,000 17.3
$1,042,001 - $1,389,000 21.5
$695,001 - $1,042,000 34.4
$556,001 - $695,000 9.9
$417,001 - $556,000 7.0
$278,001 - $417,000 2.9
$139,001 - $278,000 2.4
$69,001 - $139,000 2.1
$0 - $69,000 2.4

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.57664233576642 16.1205766710354

Number Of Homes And Apartments:
319,558

San Jose Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
Since 2000:
2000 Q1 - 2018 Q4
125.13% 4.31%
6
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,320 / per month

Homeownership Rate

Homeownership
Owners 56.66
Renters 43.34
Vacant 3.61

Housing Market Details

 

Age of Homes

AGE OF San Jose HOMES
2000 or Newer 12.9
1970 - 1999 48.4
1940 - 1969 33.6
1939 or Older 5.2

Types of Homes

TYPE OF San Jose HOMES
Single-Family 53.4
Townhomes 11.1
Small Apt. Buildings 6.8
Apt. Complexes 25.4
Mobile Homes 3.4
Other 0.1

Home Size

SIZE OF San Jose HOMES
No Bedroom 3.45
1 Bedroom 13.37
2 Bedrooms 24.50
3 Bedrooms 31.61
4 Bedrooms 22.15
5 or more bedrooms 4.93