United States · North America · Population: 1,000,000
San Jose is a challenging market for first-time buyers, with a slight cooling in the housing market. The city has one of the most expensive rental markets. At $1,350,000 average home price in United States, buyers should consider the 11.5x price-to-income ratio when planning a purchase.
| Average Home Price | $1,350,000 |
| Price per sqm | $14,500 |
| Price-to-Income Ratio | 11.5x |
| Mortgage Rate | 6.8% |
| 1-Year Price Change | -0.5% |
| 1-Bedroom Apartment | $3,000/mo |
| 3-Bedroom Apartment | $4,500/mo |
| Rent-to-Income Ratio | 25% |
| Median Household Income | $117,000/year |
| Years to Buy (at median income) | 11.5 years |
| Local Currency | USD |
With a price-to-income ratio of 11.5x, San Jose requires significant savings to purchase property. At a mortgage rate of 6.8%, monthly payments could consume a large share of income. Home prices have decreased 0.5% in the past year.
Cities worldwide with home prices closest to San Jose
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