Cities with the most expensive homes in the San Jose metro area -

(May 12, 2023) — Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, affordability plays a huge role for buyers. High mortgage rates are also making monthly payments more expensive; as of May 4, the 30-year fixed mortgage rate sits at 6.39%.

The typical home value in the United States increased over the last year by 3% to $334,994.Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others.

Location, size, age, and condition are all contributing factors to home value.Stacker compiled a list of cities with the most expensive homes in the San Jose metro area using data from Zillow.

Cities are ranked by the Zillow Home Values Index for all homes as of March 2023. The ZHVI represents a seasonally adjusted price for the middle market for all homes. All 20 cities and towns with data available were included in the list.

Charts for each city show the monthly typical home value since January 2018.

#20. Hollister, CA

– Typical home value: $735,170
– 1-year price change: -7.1%
– 5-year price change: +31.0%

#19. San Juan Bautista, CA

– Typical home value: $849,442
– 1-year price change: -6.9%
– 5-year price change: +33.7%

#18. Gilroy, CA

– Typical home value: $1,031,135
– 1-year price change: -3.0%
– 5-year price change: +36.1%

#17. Lexington Hills, CA

– Typical home value: $1,224,257
– 1-year price change: -4.9%
– 5-year price change: +22.8%

#16. Morgan Hill, CA

– Typical home value: $1,279,144
– 1-year price change: -4.2%
– 5-year price change: +40.4%

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#15. San Jose, CA

– Typical home value: $1,292,395
– 1-year price change: -3.9%
– 5-year price change: +33.6%

#14. Milpitas, CA

– Typical home value: $1,296,948
– 1-year price change: -3.3%
– 5-year price change: +27.6%

#13. San Martin, CA

– Typical home value: $1,417,612
– 1-year price change: -5.9%
– 5-year price change: +36.3%

#12. Santa Clara, CA

– Typical home value: $1,497,796
– 1-year price change: -4.9%
– 5-year price change: +25.0%

#11. Campbell, CA

– Typical home value: $1,599,685
– 1-year price change: -2.0%
– 5-year price change: +37.0%

#10. Mountain View, CA

– Typical home value: $1,806,723
– 1-year price change: -8.3%
– 5-year price change: +15.1%

#9. Sunnyvale, CA

– Typical home value: $1,829,465
– 1-year price change: -5.4%
– 5-year price change: +21.3%

#8. Los Gatos, CA

– Typical home value: $2,487,266
– 1-year price change: -3.5%
– 5-year price change: +42.9%

#7. Cupertino, CA

– Typical home value: $2,601,566
– 1-year price change: -7.0%
– 5-year price change: +26.9%

#6. Stanford, CA

– Typical home value: $2,897,766
– 1-year price change: -3.5%
– 5-year price change: +27.9%

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#5. Palo Alto, CA

– Typical home value: $3,171,651
– 1-year price change: -9.4%
– 5-year price change: +18.6%

#4. Saratoga, CA

– Typical home value: $3,513,552
– 1-year price change: -4.0%
– 5-year price change: +42.3%

#3. Monte Sereno, CA

– Typical home value: $3,894,687
– 1-year price change: -4.0%
– 5-year price change: +34.4%

#2. Los Altos, CA

– Typical home value: $3,919,629
– 1-year price change: -5.7%
– 5-year price change: +34.6%

#1. Los Altos Hills, CA

– Typical home value: $5,352,128
– 1-year price change: -3.6%
– 5-year price change: +39.9%

This story was produced and distributed in partnership with Stacker Studio and is re-published pursuant to a CC BY-NC 4.0 License.

Tags: home price, real estate, Stacker