Looking to get a sense of the rental prices in Silicon Valley? Today I’ll show you how to find the median rental price by zip code for homes in Silicon Valley by using my weekly Altos Research real estate market reports for Silicon Valley.
We will use Cupertino’s housing market as an example, because many high tech employees plan to work in that city. My Altos Research report for Cupertino. You can access it at this link Mary Pope-Handy’s Cupertino Market Report. When you click through, it will look something like this:
There are tabs for houses and condos, and you can toggle as desired.
On the right, you will see the market profile. Below, view one for the single family homes and one for condos. I have outlined where the median rental value shows so that you can locate it fast.
Not really wanting to live in Cupertino? Find the “Search Anywhere” field near the top and enter a city name or a zip code and you can spot check areas of interest.
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Not a rental Realtor
NB: I do not work in the rental market as 99.99% of rental homes are “for rent by owner” and there’s not a place for a Realtor in that structure. When folks first move to Silicon Valley, though, they usually want to rent for awhile, so I will sometimes provide rental info because I know it’s needed. Interested in buying or selling? Please do reach out to me! Best to start with email so that a phone call can be scheduled: firstname.lastname@example.org as I get a lot of spam / robo calls. However, feel free to call first if you prefer – 408-204-7673.
San Jose Districts and their Values (Feb 2018)
- San Mateo County $2884
- Santa Clara County $2552
- The San Francisco Bay Area as a whole (all 9 counties) $2451
- Alameda County $2172
- Contra Costa County $1825
These numbers are the median for the whole county in question – so in Santa Clara County, it will be a lot more if you are in Cupertino or Palo Alto or Los Gatos as opposed to the Alum Rock area of San Jose or Morgan Hill or Gilroy.
Houses are worse still. Small homes may be found for $2500 to $3000 in many areas. Places with better schools may run $4000 to $6000 per month for a home with better schools. Want the best? It’s likely to be $7000 – $8000 for a good sized, comfortable (do not read “elegant”) house with better schools – or more.
Update on August 25: I’m hearing that 1 bedroom apartments in Cupertino are running at around $2300 per month and a 2 bedroom at around $3000 per month.
Read the article in the Merc:
Bay Area rental crisis squeezing out middle class