Total monthly cost of ownership
Cost to Own a Home in San Jose, California
A $1,188,000 home here costs
$8,752per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $375,000 a year.
A standard mortgage calculator would have told you $6,580. The real number is $2,172 higher every month, 33% more than the payment most buyers budget for.
Compare Santa Clara County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
San Jose against Santa Clara County and California
| Measure | San Jose | Santa Clara County |
|---|---|---|
| Median home value | $1,187,800 | $1,382,800 |
| Median property tax | $9,121 | $9,766 |
| Effective tax rate | 0.768% | 0.706% |
| Median gross rent | $2,617 | $2,814 |
| Population | 990,054 | 1,903,297 |
The weather behind that power bill
San Jose sits in Santa Clara County, which averages a high of 81.4°F in its hottest month and a low of 41.7°F in its coldest, with 13.48" of precipitation a year and 58% of it in a single three-month stretch. That climate drives 624 cooling and 2,184 heating degree days, which is what sets the $169 electricity line above.
See the full climate breakdown for Santa Clara County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Santa Clara County
Full Santa Clara County cost breakdown · Every county in California
Talk to someone who works this market
These are San Jose averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works San Jose every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in San Jose I already own here and may sell
Common questions
How much does it cost to own a home in San Jose?
A $1,188,000 home in San Jose, California costs approximately $8,752 per month with 20% down at 7.4%. That is $6,580 principal and interest, $760 property tax, $184 homeowners insurance, $237 utilities and $990 set aside for maintenance.
What is the property tax rate in San Jose?
San Jose has an effective property tax rate of 0.768%, based on a median home value of $1,187,800 and median real estate taxes of $9,121. That is higher than the Santa Clara County average of 0.706%.
What is the average home price in San Jose?
The median owner-occupied home value in San Jose, California is $1,187,800, against $1,382,800 across Santa Clara County.
Is it cheaper to rent or buy in San Jose?
Median gross rent in San Jose is $2,617 a month, against $8,752 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in San Jose?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in San Jose, California at today's rate takes a household income of roughly $375,000 a year. That covers the full $8,752 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for San Jose, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for California.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.