Department of Numbers

San Jose California Residential Rent and Rental Statistics

The median monthly gross residential rent in San Jose, CA (the San Jose-Sunnyvale-Santa Clara metro area) was $1,894 in 2015 according to the Census ACS survey.1 Average gross rent in San Jose was $1,898 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 San Jose median and average rent data will be released in September of 2017.

Data is also available below for San Jose rental vacancy rates, San Jose rent as a percent of median income and the fraction of renters in San Jose.

Show dollars as: Nominal Real

Real Gross Rent in San Jose California (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
California Median Gross Rent $1,311 +3.88% +8.98%
San Jose, CA Median Gross Rent $1,894 +7.01% +21.10%

San Jose, CA Real Gross Rent Trends

At $1,894, real median gross rent in San Jose was at its highest level in 2015 since the series began in 2005. At $1,898, real average gross rent in San Jose was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in San Jose: San Jose CA Median, San Jose CA Average, California Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for San Jose

Date US
Median
California
Median
San Jose, CA
Median
San Jose, CA
Average
2015 $959 $1,311 $1,894 $1,898
2014 $930 $1,262 $1,770 $1,776
2013 $898 $1,215 $1,628 $1,654
2012 $886 $1,203 $1,564 $1,587
2011 $887 $1,195 $1,486 $1,513
2010 $901 $1,225 $1,487 $1,525
2009 $905 $1,241 $1,519 $1,541
2008 $920 $1,267 $1,576 $1,602
2007 $874 $1,194 $1,455 $1,504
2006 $883 $1,191 $1,411 $1,464
2005 $858 $1,147 $1,424 $1,478

San Jose Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for San Jose California was 2.75% according to Census ACS data.

Rental Vacancy Rate in San Jose California

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
California 3.33% -0.57% -1.18%
San Jose, CA 2.75% -0.15% -0.18%

Trends in San Jose, CA Rental Vacancy Rate

The rental vacancy rate in San Jose peaked in 2005 at 4.48%. Since then it has fallen by 1.73% to 2.75%. Data records for this series originated in 2005. From a 2011 post peak low of 2.71%, the rental vacancy rate has increased by 0.04%.

Rental Vacancy Rate: San Jose CA, California, US

Rental vacancy rate in California

Historical Rental Vacancy Rate data for San Jose

Date US California San Jose, CA
2015 5.85% 3.33% 2.75%
2014 6.32% 3.90% 2.90%
2013 6.49% 4.22% 2.86%
2012 6.77% 4.51% 2.93%
2011 7.40% 4.94% 2.71%
2010 8.17% 5.86% 4.03%
2009 8.43% 5.76% 3.40%
2008 7.86% 4.71% 2.72%
2007 7.87% 4.72% 3.35%
2006 7.70% 4.67% 3.95%
2005 7.74% 4.61% 4.48%

Rent as a Fraction of Income

Using median household income data for San Jose, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For San Jose, median monthly gross rent as a fraction of median household income was 22.29% in 2015 according to the ACS.

San Jose California Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
California 24.39% -0.18% -0.30%
San Jose, CA 22.29% +0.16% +1.66%

Trends in San Jose, CA Rent as a Fraction of Income

San Jose renters paid 22.29% of median household income towards the median monthly gross rent in 2015. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: San Jose CA, California, US

Percent of median household income going towards median monthly gross rent in San Jose California

Historical Data for Annual Rent as a Fraction of Income in San Jose California

Date US California San Jose, CA
2015 20.63% 24.39% 22.29%
2014 20.89% 24.57% 22.13%
2013 20.78% 24.40% 21.50%
2012 20.65% 24.69% 20.63%
2011 20.70% 24.59% 20.85%
2010 20.50% 24.18% 20.18%
2009 20.12% 23.52% 20.08%
2008 19.00% 22.32% 19.23%
2007 18.66% 21.58% 18.82%
2006 18.90% 21.80% 18.14%
2005 18.89% 21.77% 18.95%

Renter Fraction in San Jose California

You can calculate the renter fraction in San Jose in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in San Jose as a fraction of total San Jose households. In 2015 43.76% of households were renters according to Census ACS data.

San Jose Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
California 46.41% +0.14% +0.44%
San Jose, CA 43.76% +0.07% +0.14%

Trends in the San Jose, CA Renter Fraction

The San Jose household renter fraction peaked in in 2013 at 44.02% and is now 0.26% below that level. The origin year for the series is 2005.

Fraction of Renting Households: San Jose CA, California, US

Fraction of renters in San Jose

History of San Jose Renter Fraction

Date US California San Jose, CA
2015 36.97% 46.41% 43.76%
2014 36.90% 46.27% 43.69%
2013 36.50% 46.21% 44.02%
2012 36.09% 45.97% 43.62%
2011 35.42% 45.12% 43.05%
2010 34.65% 44.36% 42.70%
2009 34.13% 43.43% 41.12%
2008 33.36% 42.95% 39.46%
2007 32.80% 42.00% 39.06%
2006 32.73% 41.55% 39.16%
2005 33.10% 41.56% 39.43%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.