Flanked by the rolling hills of Silicon Valley, San Jose is a mecca for the tech industry. Yet its economic success has made its housing market the most expensive in the nation, according to consumer advice site SmartAsset. Like San Francisco, the concentration of high earners has put immense pressure on the limited housing stock. Median house prices rose by almost 9.8% between 2024 and 2025 to more than $2 million, requiring a staggering salary of $501,760.14.

San Jose’s affordability crisis is worsened by restrictive zoning: 94% of residential land is reserved for single-family homes, with just 6% zoned for more affordable, multi-unit housing. Many are left relying on rentals, or even without housing altogether.

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