Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Santa Clara County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,304,031 | $642,203 | $242,182 |
| Price Trend (Annual %) | 8.1% | 10.0% | 8.2% |
| Median Gross Rent | $2,813 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Santa Clara County is about 103% higher than in California. Rent is about 44% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Santa Clara County, up about 8.1% and 6.5% a year respectively. Home prices are changing faster.
Median rent in Santa Clara County rose about 65.1% between 2015 and 2023, from $1,704 to $2,813. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 8.1 yearly household incomes in Santa Clara County.
Buying the median-priced home in Santa Clara County costs roughly 38.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Santa Clara County. The price-to-rent ratio in California is about 27.4.
| Metric | Santa Clara County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,304,031 | $642,203 | $242,182 |
| Median Household Income | $160,399 | $96,718 | $78,145 |
| Price-to-Income Ratio | 8.1 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Santa Clara County rose about 102.9%, while median household income rose about 85.4% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Santa Clara County | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.1% | 51.6% | 58.2% |
| Rental Rate | 42.1% | 40.9% | 31.3% |
| Vacancy Rate | 5.7% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Santa Clara County has a homeownership rate of 52.1%, higher than the California average of 51.6%. Its housing vacancy rate is 5.7%, compared with 7.6% in California.
Housing Stock
| Metric | Santa Clara County | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.85 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1975 | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.0 | 5.5 |
The typical housing unit in Santa Clara County was built around 1975. On average, 2.8 people live in a home with about 5.0 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Santa Clara County, California.
What is the median home price in Santa Clara County, California?
The median home price in Santa Clara County, California is $1,304,031, higher than the California average of $642,203.
What is the average home price in Santa Clara County, California?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Santa Clara County, California?
The median gross rent in Santa Clara County, California is $2,813 per month, higher than the California average of $1,955.
What was the median gross rent in Santa Clara County in 2020?
In 2020, the median gross rent in Santa Clara County, California was $2,385 per month.
What is the price-to-rent ratio in Santa Clara County, California?
The price-to-rent ratio in Santa Clara County, California is about 38.6, meaning it would take roughly 38.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Santa Clara County.
Are home prices or rent rising faster in Santa Clara County, California?
Both home prices and rent are rising in Santa Clara County, up about 8.1% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Santa Clara County, California?
52.1% of households in Santa Clara County, California own their home, higher than the California average of 51.6%.
What is the vacancy rate in Santa Clara County, California?
The housing vacancy rate in Santa Clara County, California is 5.7%, lower than the California average of 7.6%.