Estimate your monthly mortgage payment in San Jose. With a median home price near $1,450,000 and a property tax rate around 0.74%, see your full principal, interest, tax, and insurance payment.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
The median home price in San Jose is about $1,450,000, and Santa Clara County has an effective property tax rate near 0.74% of value per year. California's Proposition 13 caps assessed-value increases at 2% per year, keeping effective rates relatively low despite high prices.
| Cost Item | San Jose Estimate |
|---|---|
| Median Home Price (2026) | $1,450,000 |
| 20% Down Payment | $290,000 |
| Loan Amount (80% LTV) | $1,160,000 |
| Effective Property Tax Rate | 0.74% per year |
| Est. Annual Property Tax | $10,730/year |
| Est. Monthly Property Tax | $894/month |
| Average Rent (2-bedroom) | $3,400/month |
Your payment includes principal and interest (fixed for a fixed-rate loan), plus property tax and insurance, typically escrowed. With less than 20% down you also pay PMI, usually 0.5% to 1.5% of the loan per year until you reach 20% equity.
San Jose is the largest city in the Bay Area and the civic capital of Silicon Valley, home to the headquarters of Adobe, Cisco, eBay, PayPal, and Zoom, with one of the highest median household incomes and housing costs of any large U.S. city.
| Local Metric | San Jose (2026 estimate) |
|---|---|
| Metro population | 970,000 |
| County / jurisdiction | Santa Clara County |
| Cost of living index (US avg = 100) | 177 |
| MIT living wage, single adult | $30.55/hour |
| MIT living wage, one earner supporting a family of four | $52.30/hour |
| Applicable minimum wage | $17.95/hour |
| Average rent, 1-bedroom | $2,700/month |
| Average rent, 2-bedroom | $3,400/month |
| Median home price | $1,450,000 |
| Median household income | $126,000/year |
| Combined sales tax rate | 9.375% |
| Effective property tax rate | 0.74% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
The median home price in San Jose is approximately $1,450,000 in 2026. A 20% down payment is about $290,000, leaving a loan of roughly $1,160,000. Prices vary widely by neighborhood.
The effective property tax rate in Santa Clara County is about 0.74% of value per year. On a $1,450,000 home that is roughly $10,730/year, or about $894/month, usually collected through escrow.
A common guideline keeps housing payments (PITI) under 28% of gross monthly income. On a $1,450,000 home with 20% down at 6.75% over 30 years, plan for a healthy six-figure household income to stay within that guideline in San Jose.
Average rent in San Jose is about $2,700/month for a 1-bedroom and $3,400 for a 2-bedroom. Compare that to the calculated PITI payment above. In high-cost California metros, buying often costs more per month than renting for years before equity catches up.
Most conventional lenders want 620+, FHA allows 580 with 3.5% down, and VA and USDA loans have no set minimum but lenders prefer 620+. A score of 740+ earns the best rates and can save tens of thousands over the loan.