San Jose home prices (US$/m²): returns since 2012

San Jose home prices, measured as the typical value per square meter (data: Redfin). This is the value of the property itself — bricks and mortar — not an investor's total return.

It excludes rent received and all costs (closing, property taxes, maintenance, vacancy). Compare it against U.S. inflation (CPI) and the S&P 500 below to see whether San Jose real estate kept up.

San Jose sits at the heart of Silicon Valley and routinely ranks among the most expensive housing markets in the United States. Its prices are tied to the same engineering payrolls, venture capital and limited buildable land that define the South Bay, so the market tends to move with the broader tech cycle. It climbed steeply through the 2010s as Valley companies expanded and inventory stayed scarce. Like the rest of the Bay Area, it pulled back during the dot-com and 2008 downturns before recovering, and high prices have long pushed buyers toward the metro's edges.

Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.