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San Jose market pulse

Real public data for San Jose's ZIP codes, updated as the agencies publish.

Metro prices

+57%

in 10 years · San Jose metro · 2016 Q2–2026 Q2

KnownSource: FHFA House Price Index, purchase-only, not seasonally adjusted, quarterly: San Jose-Sunnyvale-Santa Clara, CA (metro area 41940), 2000 Q1–2026 Q2 (opens in a new tab)

Past change, not a forecast.

Data table
San Jose-Sunnyvale-Santa Clara, CA metro: FHFA house price index, 2016 Q2 to 2026 Q2
QuarterIndexChange since 2016 Q2
2016 Q2351.0—
2016 Q3345.5-1.6%
2016 Q4335.6-4.4%
2017 Q1354.0+0.9%
2017 Q2366.7+4.5%
2017 Q3369.8+5.4%
2017 Q4375.2+6.9%
2018 Q1388.5+11%
2018 Q2407.5+16%
2018 Q3403.2+15%
2018 Q4394.6+12%
2019 Q1405.1+15%
2019 Q2413.2+18%
2019 Q3405.7+16%
2019 Q4407.4+16%
2020 Q1427.9+22%
2020 Q2422.5+20%
2020 Q3437.3+25%
2020 Q4451.1+29%
2021 Q1469.3+34%
2021 Q2496.1+41%
2021 Q3513.6+46%
2021 Q4519.9+48%
2022 Q1562.5+60%
2022 Q2571.8+63%
2022 Q3502.1+43%
2022 Q4503.8+44%
2023 Q1523.4+49%
2023 Q2554.0+58%
2023 Q3536.9+53%
2023 Q4541.3+54%
2024 Q1539.9+54%
2024 Q2573.6+63%
2024 Q3561.2+60%
2024 Q4556.0+58%
2025 Q1565.0+61%
2025 Q2563.5+61%
2025 Q3544.5+55%
2025 Q4583.9+66%
2026 Q1566.4+61%
2026 Q2552.3+57%

Each index has its own base, so compare its changes, not its level.

Details

FHFA's purchase-only index for San Jose-Sunnyvale-Santa Clara, CA: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.

ZIP by ZIP

+83%

The median ZIP's house price index, 2015–2025. 23 ZIPs, from +13% to +103%.

KnownSource: FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions), 2000–2025 (updated 2026-03-31) (opens in a new tab)

One-year ZIP changes are noisy: of last year's top-3 ZIPs in our 50 cities, 1 in 15 was top 3 again. Past change, not a forecast.

Loading the ZIP figures…
About these figures

FHFA's experimental ZIP house price index: houses with Fannie Mae or Freddie Mac loans, from sales and refinance appraisals. Condos, co-ops and multi-unit buildings aren't in it. 28 of San Jose's 29 ZIPs have an index; FHFA publishes one only where enough sales exist. A ZIP whose index stops before the latest year shows the year it ends instead of changes. Each index has its own base, so compare a ZIP's changes, not its level.

Rent or buy here

EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $8,670 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$6,345

a month more to own a typical sample home than HUD's rent for its size, ZIP 95125

EstimateSource: U.S. Department of Housing and Urban Development, Small Area Fair Market Rents by ZIP code, FY2027, FY2027 (from Oct 1, 2026) (opens in a new tab)
Own: 3-bedroom sample house, $1,624,000Sample: fictional home, for the demo.
EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $8,670 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$10,405 a monthNot included: upkeep, utilities, flood insurance, special assessments.
Rent: HUD fair market rent, 3 bedrooms
$4,060 a monthHUD Small Area Fair Market Rent, FY2027: a 40th-percentile rent for a standard home, utilities included. Not an asking rent.
See this sample home

Lending

6.625%

Median rate, 30-year fixed conventional · 1,775 loans · 2025

KnownSource: FFIEC Home Mortgage Disclosure Act (HMDA) data: 2025 Snapshot National Loan-Level Dataset (data as of June 1, 2026), via the CFPB HMDA Data Browser; Homiy's calculations, 2025 loans; retrieved 2026-09-27 (opens in a new tab)

2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in San Jose's census tracts: 4,045 loans. Loans that closed, not offers: a rate depends on your credit, down payment, points and the day you lock it.

Middle half of rates
6.25% to 6.875%
Loan costs at closing
$5,164 medianMiddle half $4,380 to $6,851: origination charges (points included) and settlement services, Closing Disclosure section D · 3,785 loans
Loan limits, 2026
$1,249,125 conformingAbove it, a jumbo loan with its own rates and rules; FHA limit $1,249,125 (one-unit home, Santa Clara County). Limits set by FHFA and HUD.
More lending figures
Borrowed, every loan on the home combined
78.6% of the value (median)Middle half 65.7% to 80%. 15.5% of buyers borrowed more than 80% of the value, 6.1% more than 90%, 2.6% more than 95%. HMDA's combined loan-to-value counts every loan on the home (second loans, down-payment-assistance loans, financed FHA or VA fees) against the value the lender used, so it doesn't show the cash buyers put down · 3,987 loans
Loan types
Conventional 97.5% · FHA 1.4%VA 1.1% · USDA 0%
Discount points
21.5% of loans paid pointsMedian paid: $2,700. Points buy a lower rate.

For comparison: 7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.

Flood and insurance

$1,285 a year

Median of 28 San Jose ZIPs' average homeowners premiums, 2022. Premiums have risen since; get quotes for your address.

KnownSource: U.S. Treasury, Federal Insurance Office: Analyses of U.S. Homeowners Insurance Markets, 2018–2022, Supporting Underlying Metrics by ZIP code (premiums per policy, nonrenewal rate), 2018–2022 (published January 2025) (opens in a new tab)
Federal flood insurance
4,131 policies in force · 218 claims since 2000FEMA National Flood Insurance Program, summed over 29 ZIPs (policies in force Jun 30, 2026; claims since 2000). Private flood policies aren't counted.
Policies insurers didn't renew
0.6% in the median ZIPU.S. Treasury Federal Insurance Office, 2022.

Most homeowners policies exclude flood, so flood insurance is a separate policy. Source: FEMA FloodSmart: What is my flood risk?, retrieved 2026-10-09 (opens in a new tab) Check an address on FEMA's flood map (opens in a new tab)

County hazard ratings (FEMA)

Natural hazards, compared with other U.S. counties

  • Santa Clara County, CA: expected yearly losses rated very high for earthquake, inland flooding; expected yearly losses rated relatively high for wildfire, coastal flooding, heat wave.
    Other ratings for Santa Clara County, CA
    • TornadoRelatively Low
    • Winter weatherVery Low
    • HailRelatively Low

FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county (NRI December 2025): expected annual losses to buildings, people and agriculture; FEMA's social-vulnerability adjustments aren't included. This describes each county, not one home. Check an address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.

What's new in San Jose

Rail openings, zoning changes and big projects from primary sources, newest first. News, not a price forecast.

  1. Zoning change

    SB79 transit-oriented housing rules take effect

    Eligible mapped sites in this urban transit county may use state density, height and floor-area standards. Local exemptions and alternative plans matter; proximity alone does not imply a fixed number of homes.

    California HCD, SB 79 Transit-Oriented Development (opens in a new tab)
  2. Zoning change

    2026 ADU rules clarify combinations and JADU occupancy

    The HCD March 2026 handbook explains combining converted, junior and detached ADUs. A JADU with its own bathroom no longer requires owner-occupancy; shared-bathroom JADUs do. These are conditional rights, not permit guarantees.

    California HCD, ADU Handbook (Gov. Code §§66314, 66323, 66333) (opens in a new tab)
  3. Zoning change

    Pre-approved ADU plans get a statewide review pathway

    AB1332 required local ADU pre-approval programs by this date. A pre-approved plan still needs site-specific checks, utilities and a building permit.

    California HCD, ADU Handbook (Gov. Code §§66314, 66323, 66333) (opens in a new tab)
  4. Rail opened

    Caltrain launches its full electric-service timetable

    Electrified service connects San Francisco and San José on the existing rail corridor. This is a major service upgrade, not a newly built station or a parcel-specific transit entitlement.

    Caltrain, electrified timetable launch (opens in a new tab)
  5. Zoning change

    San José allows qualifying ADUs to be sold as condominiums

    The city opted into AB1033. Separate sale requires the local condominium process and applicable lender/title approvals; an ADU is not automatically a separate buildable lot.

    City of San José, first separately sold ADU condominium (opens in a new tab)

Rules in California

From state law, standard contract forms and local custom. Research, not legal advice.

ClosingRule
An escrow company runs the closing and holds the money.
Seller's disclosureRule
Real Estate Transfer Disclosure Statement (TDS) plus Natural Hazard Disclosure You may cancel within 5 days in some cases: a required disclosure delivered after the offer is signed: 5 days if e-delivered or mailed, 3 days if handed over in person.
Closing taxesRule
Santa Clara County documentary transfer tax: 0.11% of the price · seller paysSan José real property conveyance tax: 0.33% of the price · split 50/50San José Measure E transfer tax: 0.75–1.5% of the price, by bracket (the whole amount) · split 50/50
How buying works in California
Who runs the closing
An escrow company runs the closing and holds the money. Typical time from contract to keys: about 30 days.
The contract
Your signed offer becomes a binding contract once the seller accepts it.
Details

C.A.R. California Residential Purchase Agreement and Joint Escrow Instructions (RPA)

Buyer agreement
C.A.R. Buyer Representation and Broker Compensation Agreement, signed before touring.
Details

State law: signed as soon as practicable and no later than the buyer's offer, 3 months at most, no automatic renewal (Civil Code 1670.50). NAR's 2024 rule moves it before the first tour.

Source: Cal. Civil Code §1670.50 (AB 2992) buyer-broker agreements (effective 2025-01-01, retrieved 2026-09-27)

Inspection
About 17 days for inspections.
Details

RPA default investigation contingency: 17 days; removed in writing (C.A.R. form CR).

Earnest money
1–3% of the price, due within 3 business days, held by: Escrow holder.
Details

RPA ¶3D(1): delivered within 3 business days after acceptance, usually by wire. Typical % is a sample.

Seller's disclosure
Real Estate Transfer Disclosure Statement (TDS) plus Natural Hazard Disclosure You may cancel within 5 days in some cases: a required disclosure delivered after the offer is signed: 5 days if e-delivered or mailed, 3 days if handed over in person.
Details

Civil Code 1102.3: the buyer may terminate by written notice; most disclosures now arrive electronically.

Source: Cal. Civil Code §1102.3 late-disclosure termination right (retrieved 2026-09-27)

Loan and appraisal
Loan contingency: 17 days (set in the contract).
Details

RPA defaults: loan and appraisal contingencies 17 days each. The 2026 RPA adds an optional appraisal-gap clause: the buyer covers a stated shortfall before the contingency applies.

Title insurance
Who pays for the owner's policy varies; the contract decides.
Details

Custom by county: seller pays in Los Angeles, San Diego, Fresno, Kern, Sacramento and Santa Clara; buyer pays in Alameda and San Francisco (Old Republic Title chart, secondary).

Property tax for a new owner
Proposition 13: you're assessed at the purchase price, then at most 2% more a year. About 1.2% of the price a year is our planning figure for San Jose; your bill can differ.
Details

Prop 13: the sale resets the assessed value to the price; 1% base rate plus voter-approved debt (about 1.15–1.3% in the covered cities), then at most 2% growth a year. A supplemental bill follows closing; parcel taxes and Mello-Roos are extra.

Prop 13: the purchase price becomes the assessed value. Median of San José's 204 tax rate areas, FY 2025-26: about 1.22% (range 1.15–1.32% by school district). Flat parcel taxes, direct assessments and Mello-Roos (common in newer subdivisions) are extra and not included.

Agent credits to the buyer
California allows an agent to credit part of their pay to the buyer, with the lender's approval.
Details

Legal when disclosed to the seller and the lender and paid through escrow (DRE Reference Book ch. 10).

Source: California DRE Reference Book, ch. 10 (Agency): rebates to the buyer must be disclosed (retrieved 2026-09-27)

Some of these facts rest on secondary sources (a law firm, title company or reference site, not the law or the form itself): C.A.R. RPA defaults: 17-day contingencies, deposit in 3 business days (secondary: Greiner Law); June 2026 C.A.R. form changes incl. RPA appraisal-gap option (secondary); Old Republic Title, Guide to California closing costs (who pays, by county; secondary); Old Republic Title, Guide to California closing costs: who pays, county and city transfer taxes (secondary); First American Title, Closing costs: who pays what in California (secondary).

Closing taxes

Closing taxes in San Jose, who customarily pays and the rate
TaxCustomarily paid byRate
Santa Clara County documentary transfer taxSeller0.11% of the priceOld Republic Title, Guide to California closing costs: who pays, county and city transfer taxes (secondary)
San José real property conveyance taxSplit 50/500.33% of the priceFirst American Title, Closing costs: who pays what in California (secondary)
San José Measure E transfer taxSplit 50/500.75–1.5% of the price, by bracket (the whole amount)Santa Clara County Clerk-Recorder: San José Measure E transfer tax (threshold adjusted 2025-07-01)
Sources (14)

Programs and deadlines

Official pages for San Jose, the same for every buyer. Each program decides who qualifies.

Down-payment help
MyHome Assistance Program (opens in a new tab) (California Housing Finance Agency (CalHFA))A deferred-payment loan for the down payment or closing costs: up to 3.5% of the price or appraised value (whichever is less) with a CalHFA FHA loan, or 3% with a CalHFA conventional loan.Official page, checked 2026-09-28.California's housing finance agency runs it; the program decides who qualifies and for how much.
Down-payment help in San Jose
We found no city or county down-payment program for San Jose. Where we looked: the City of San José Housing Department's Homebuyer Assistance page, which lists CalHFA, Housing Trust Silicon Valley (a nonprofit) and Project Sentinel rather than a city program, and web searches.Checked 2026-09-28.
Homestead exemption
Homeowners' Exemption (opens in a new tab) (California State Board of Equalization)A $7,000 reduction in the taxable value of a home that was the owner's principal residence on January 1; file once with the county assessor (form BOE-266).Deadline: February 15, for the full exemption that yearOfficial page, checked 2026-09-28.
If you disagree with your assessment
Assessment Appeal Dates and Deadlines (opens in a new tab) (Santa Clara County Clerk of the Board of Supervisors)Appeals of the regular assessed value go to the Assessment Appeals Board during the regular filing period.When: July 2 to September 15Official page, checked 2026-09-28.
After you buy: alerts on your deed
We found no county alert service for documents recorded on your home. Where we looked: Santa Clara County Clerk-Recorder home page links and web searches; California requires every county to start a recorder notification program by January 1, 2027 (SB 255).Checked 2026-09-28.

Sample homes in San Jose, each with its estimated monthly cost and the things to check. Found one somewhere else? Check it here.

Search San JoseCheck a home
Sources (39)