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Santa Clara, CA Real Estate Market

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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Santa Clara, CA Housing Market Trends

With 127,647 people, 44,198 houses or apartments, and a median cost of homes of $1,243,729, Santa Clara house prices are not only among the most expensive in California, Santa Clara real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Santa Clara, accounting for 40.57% of the city's housing units. Other types of housing that are prevalent in Santa Clara include single-family detached homes ( 40.09%), row houses and other attached homes ( 9.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.29%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Santa Clara primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Santa Clara has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Santa Clara's housing was primarily built during this period, from the '40s through the '60s. A full 43.94% of the city's housing hails from this era. Other housing ages represented in Santa Clara include homes built between 1970-1999 ( 33.66%) and housing constructed between 2000 and later ( 18.80%). There's also some housing in Santa Clara built before 1939 ( 3.60%).

Santa Clara Home Appreciation Rates

In the last 10 years, Santa Clara has experienced some of the highest home appreciation rates of any community in the nation. Santa Clara real estate appreciated 112.77% over the last ten years, which is an average annual home appreciation rate of 7.84%, putting Santa Clara in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Santa Clara 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, Santa Clara appreciation rates have trailed the rest of the nation. In the last twelve months, Santa Clara's appreciation rate has been 11.61%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Santa Clara were at 4.39%, which equates to an annual appreciation rate of 18.74%.

Importantly, this makes Santa Clara one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to California, our data show that Santa Clara's latest annual appreciation rate is lower than 80% 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 Santa Clara differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Santa Clara - 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 Santa Clara real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,243,729

Santa Clara, CA HOME PRICES

> $1,127,000
$845,001 - $1,127,000
$563,001 - $845,000
$451,001 - $563,000
$338,001 - $451,000
$225,001 - $338,000
$112,001 - $225,000
$56,001 - $112,000
$0 - $56,000
60.4%
60.4%
23.7%
23.7%
11.2%
11.2%
2.1%
2.1%
1.0%
1.0%
0.2%
0.2%
0.8%
0.8%
0.2%
0.2%
0.4%
0.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
44,198

Santa Clara Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
156.89% 4.28%
4
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,568 / per month

Homeownership Rate

Owners
Renters
Vacant
41.7%
41.7%
58.3%
58.3%
6.3%
6.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
18.8%
18.8%
33.7%
33.7%
43.9%
43.9%
3.6%
3.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
40.1%
40.1%
9.9%
9.9%
9.3%
9.3%
40.6%
40.6%
0.1%
0.1%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
5.3%
5.3%
20.3%
20.3%
30.1%
30.1%
30.0%
30.0%
12.1%
12.1%
2.3%
2.3%
0.0% 100.0%
% OF HOMES