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 Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (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 1,030,119, 321,835 total housing units (homes and apartments), and a median house value of $890,498, 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 53.00% of the city's housing units. Other types of housing that are prevalent in San Jose include large apartment complexes or high rise apartments ( 25.93%), row houses and other attached homes ( 11.01%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.69%).

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 56.40% owning and 43.60% 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 ( 33.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.71%). 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 92.01% over the last ten years, which is an average annual home appreciation rate of 6.74%, 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.

Over the last year, San Jose appreciation rates have trailed the rest of the nation. In the last twelve months, San Jose's appreciation rate has been -2.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in San Jose were at -0.77%, which equates to an annual appreciation rate of -3.06%.

Notably, San Jose's appreciation rate in the latest quarter is one of the lowest in America.

Relative to California, our data show that San Jose's latest annual appreciation rate is lower 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:
$890,498

San Jose, CA HOME PRICES

Value Range
> $1,193,000 24.0
$895,001 - $1,193,000 24.4
$597,001 - $895,000 31.1
$478,001 - $597,000 7.9
$358,001 - $478,000 4.9
$239,001 - $358,000 2.0
$120,001 - $239,000 2.3
$60,001 - $120,000 1.5
$0 - $60,000 2.0

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
1.75766423357664 16.9069462647444

Number Of Homes And Apartments:
321,835

San Jose Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
112.57% 3.79%
5
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,269 / per month

Homeownership Rate

Homeownership
Owners 56.40
Renters 43.60
Vacant 3.74

Housing Market Details

 

Age of Homes

AGE OF San Jose HOMES
2000 or Newer 13.7
1970 - 1999 47.8
1940 - 1969 33.3
1939 or Older 5.2

Types of Homes

TYPE OF San Jose HOMES
Single-Family 53.0
Townhomes 11.0
Small Apt. Buildings 6.7
Apt. Complexes 25.9
Mobile Homes 3.3
Other 0.1

Home Size

SIZE OF San Jose HOMES
No Bedroom 3.81
1 Bedroom 13.39
2 Bedrooms 24.36
3 Bedrooms 31.56
4 Bedrooms 22.03
5 or more bedrooms 4.85