Home Values in San Jose, California — 2026 Market Report
Updated March 2026 | Balanced Market | +2.2% YoY
The median home value in San Jose, California is $1,350,000 as of March 2026, which is above the national median of $400,000. Home values in San Jose have increased by 2.2% over the past year and 11.5% over the last five years. With a population of 1,013,240 and a median household income of $117,324, the price-to-income ratio stands at 11.5x, making San Jose affordable for the average household.
San Jose Housing Market Conditions
| Metric | San Jose | National Avg |
|---|---|---|
| Median Home Value | $1,350,000 | $400,000 |
| YoY Appreciation | +2.2% | +3.8% |
| 5-Year Appreciation | +11.5% | +22.4% |
| Price per Sq Ft | $1125 | $222 |
| Days on Market | 41 days | 45 days |
| Months of Supply | 4 | 3.5 |
| List-to-Sale Ratio | 98.3% | 98.5% |
| Monthly Homes Sold | 712 | — |
| Foreclosure Rate | 0.54% | 0.3% |
Home Value Trends in San Jose
A homeowner who purchased at the median price of $1,210,762 five years ago in San Jose would have gained approximately $139,238 in equity, representing a 11.5% return on investment. Over the past year alone, the typical homeowner gained $29,061 in home equity.
Affordability in San Jose, CA
With a median household income of $117,324 and a median home price of $1,350,000, the price-to-income ratio in San Jose is 11.5x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $7,943 compared to estimated monthly ownership costs of $7,268 gives a rent-vs-buy ratio of 0.92. In San Jose, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in San Jose
The effective property tax rate in California is 0.76%. On a home valued at $1,350,000, the estimated annual property tax bill is $10,260, or approximately $855/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in San Jose is 214.1 (100 = national average), indicating living costs are above the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in San Jose, CA?
The median home value in San Jose, California is $1,350,000 as of March 2026. Home values have changed +2.2% over the past year, with a 5-year appreciation of 11.5%.
Is San Jose a buyer's or seller's market?
San Jose is currently a balanced market with 4 months of housing supply. Homes spend an average of 41 days on market, and the list-to-sale price ratio is 98.3%. Supply and demand are relatively balanced.
Are home values going up in San Jose?
Yes, home values in San Jose have increased by 2.2% over the past year. The 5-year appreciation rate is 11.5%, meaning a home worth $1,210,762 five years ago is now worth $1,350,000.
Is it better to rent or buy in San Jose?
The average monthly rent in San Jose is $7,943, while estimated monthly homeownership costs are approximately $7,268. The price-to-rent ratio is 14.2. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for San Jose, California is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.