City Profile: San Jose
San Jose is well-known as the capital of Silicon Valley – if not the capital of the tech industry, period. It is also known as one of the most expensive metro areas in the US, where about a quarter of households bring in a quarter of a million dollars a year yet still can be priced out of the area’s median-priced home. Despite the high cost of living, the city of San Jose is still incredibly popular; it is one of California’s largest cities, with over one million residents and growing. From the hub of music, art, food, and nightlife available downtown, to beautiful and historic neighborhoods like Mayfair, San Jose has a lot to offer residents and remains a hot area for rental investments.
San Jose is famous for creating advances in technology.
Several major tech companies were founded in the city, including Cisco, Adobe, and eBay, among many others. San Jose is home to the second highest number of Fortune 500 companies, with New York having the most. Advances in technology and startup companies have made San Jose the largest patent-generating city in the country.
The city is home to sprawling suburbs, where many of the residents are employees of large tech companies. Cisco and eBay are two of the city’s largest employers. Not everyone residing in San Jose works in tech, however, and not everyone who works for a tech company is an engineer or programmer – since these large companies also need employees in customer service, finance, accounting, and more – the area has many opportunities, along with the high pay and stability offered by these companies.
CareerBliss and Glassdoor have both rated San Jose as one of America’s best and happiest places to work. US News and World Reports have listed San Jose among the best places to live based on overall quality of life, including job market and value of living. Forbes has listed San Jose as one of the country’s safest cities. Unfortunately, it’s not all positive, as San Jose also ranks highest among cities with the worst traffic.
The local economy is steadily growing.
The economy of San Jose is among the fastest-growing in the country. In 2017, the Gross Domestic Product of the city grew over 7.6%, settling at an impressive $275 billion.
Zillow reports the median home value in San Jose is $1,002,873, a -6.4% decrease over the past year. An increase of 1.1% is expected over the next year. The median price for rental properties in San Jose is $3,520, which is only slightly lower than the San Jose-Sunnyvale-Santa Clara Metro area median of $3,610.
San Jose’s most expensive neighborhoods are Willow Glen, with a median home price of $1,075,000; Rose Garden, median of $967,000; and Blossom Valley, at $813,000.
San Jose keeps residents active with plenty of attractions.
Considered “the Rodeo Drive of Silicon Valley,” San Jose’s Santana Row is a gorgeous Mediterranean-style district full of shopping and entertainment options. The area boasts over 70 shops, 20 restaurants, and nearly a dozen salons and spas. Designer labels can be found among French-style cafes, patio wine bars, and stylish lounges, with something available for everyone.
A number of famous landmarks can be found in San Jose, from the 200-year-old Alameda corridor and the 132-year-old Winchester mansion, to more quiet neighborhoods such as Naglee Park with its elegant estate homes. Though San Jose is known for being the tech capital, its history as the oldest civilian settlement in California (dating back to 1777) can be seen in architecture throughout the area
San Jose has over 250 walkable downtown dining and entertainment options, 193 regional and city parks and gardens, 60 miles of hiking and walking trails, over 60 hotels with meeting spaces, and an abundance of art and culture destinations.
Not only is San Jose one of the country’s safest, cleanest, and largest cities, but it offers residents a central locale in a desirable area. Access to three major airports, a smart and walkable downtown, and diverse attractions make the city of San Jose a desirable location for potential renters.
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