Cities with the fastest-growing home prices in the San Jose metro area

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January 25, 2024
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Cities with the fastest-growing home prices in the San Jose metro area

The real estate frenzy spurred by the coronavirus pandemic continues, though at a slower pace. Buyers are still competing for a limited supply of housing, driving up prices for affordable properties.

The typical home value in the United States was $344,000 in December, 3.6% lower than the year before, but in line with seasonal trends.

Increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.

Stacker compiled a list of cities with the fastest-growing home prices in the San Jose-Sunnyvale-Santa Clara, CA metro area using data from Zillow. Cities are ranked by their one-year price change as of December 2023.

1 / 20
Stacker

#20. Hollister, CA

- 1-year price change: -$19,297 (-2.5%)
- 5-year price change: +$164,481 (+27.9%)
- Typical home value: $754,275 (#20 most expensive city in metro)
2 / 20
Stacker

#19. San Juan Bautista, CA

- 1-year price change: +$5,322 (+0.6%)
- 5-year price change: +$226,658 (+33.7%)
- Typical home value: $899,056 (#19 most expensive city in metro)
3 / 20
Stacker

#18. Lexington Hills, CA

- 1-year price change: +$9,722 (+0.8%)
- 5-year price change: +$181,685 (+17.8%)
- Typical home value: $1,204,477 (#17 most expensive city in metro)
4 / 20
Stacker

#17. Palo Alto, CA

- 1-year price change: +$35,756 (+1.1%)
- 5-year price change: +$240,436 (+8.1%)
- Typical home value: $3,208,371 (#5 most expensive city in metro)
5 / 20
Stacker

#16. Morgan Hill, CA

- 1-year price change: +$39,333 (+3.1%)
- 5-year price change: +$328,475 (+34.2%)
- Typical home value: $1,289,721 (#16 most expensive city in metro)
6 / 20
Stacker

#15. Gilroy, CA

- 1-year price change: +$47,040 (+4.7%)
- 5-year price change: +$270,672 (+34.9%)
- Typical home value: $1,045,412 (#18 most expensive city in metro)
7 / 20
Stacker

#14. Mountain View, CA

- 1-year price change: +$47,848 (+2.7%)
- 5-year price change: +$129,457 (+7.6%)
- Typical home value: $1,839,707 (#10 most expensive city in metro)
8 / 20
Stacker

#13. San Martin, CA

- 1-year price change: +$72,745 (+5.2%)
- 5-year price change: +$329,354 (+28.8%)
- Typical home value: $1,474,549 (#13 most expensive city in metro)
9 / 20
Stacker

#12. Santa Clara, CA

- 1-year price change: +$74,657 (+5.2%)
- 5-year price change: +$228,269 (+17.7%)
- Typical home value: $1,515,918 (#12 most expensive city in metro)
10 / 20
Stacker

#11. Sunnyvale, CA

- 1-year price change: +$75,496 (+4.2%)
- 5-year price change: +$227,653 (+13.8%)
- Typical home value: $1,874,380 (#9 most expensive city in metro)
11 / 20
Stacker

#10. San Jose, CA

- 1-year price change: +$82,450 (+6.6%)
- 5-year price change: +$306,428 (+30.2%)
- Typical home value: $1,322,389 (#15 most expensive city in metro)
12 / 20
Stacker

#9. Milpitas, CA

- 1-year price change: +$86,961 (+6.9%)
- 5-year price change: +$268,891 (+24.9%)
- Typical home value: $1,347,057 (#14 most expensive city in metro)
13 / 20
Stacker

#8. Campbell, CA

- 1-year price change: +$113,745 (+7.4%)
- 5-year price change: +$368,089 (+28.6%)
- Typical home value: $1,653,941 (#11 most expensive city in metro)
14 / 20
Stacker

#7. Los Altos, CA

- 1-year price change: +$115,948 (+3.0%)
- 5-year price change: +$797,426 (+24.7%)
- Typical home value: $4,028,763 (#2 most expensive city in metro)
15 / 20
Stacker

#6. Los Gatos, CA

- 1-year price change: +$116,896 (+5.2%)
- 5-year price change: +$612,021 (+34.8%)
- Typical home value: $2,372,043 (#8 most expensive city in metro)
16 / 20
Stacker

#5. Cupertino, CA

- 1-year price change: +$129,623 (+5.0%)
- 5-year price change: +$543,059 (+25.0%)
- Typical home value: $2,711,964 (#7 most expensive city in metro)
17 / 20
Stacker

#4. Monte Sereno, CA

- 1-year price change: +$133,420 (+3.5%)
- 5-year price change: +$1,000,663 (+33.9%)
- Typical home value: $3,948,265 (#3 most expensive city in metro)
18 / 20
Stacker

#3. Los Altos Hills, CA

- 1-year price change: +$140,089 (+2.7%)
- 5-year price change: +$1,008,753 (+22.9%)
- Typical home value: $5,410,863 (#1 most expensive city in metro)
19 / 20
Stacker

#2. Saratoga, CA

- 1-year price change: +$157,393 (+4.6%)
- 5-year price change: +$944,480 (+35.6%)
- Typical home value: $3,595,078 (#4 most expensive city in metro)
20 / 20
Stacker

#1. Stanford, CA

- 1-year price change: +$171,006 (+6.5%)
- 5-year price change: +$407,976 (+17.1%)
- Typical home value: $2,794,853 (#6 most expensive city in metro)

This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 380 metros.

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