Apartments in Downtown San Jose

San Jose:
May Rent Report

Welcome to the May 2024 San Jose Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the San Jose rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in San Jose and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of San Jose average rent prices in the chart below.

May Prices: San Jose vs. Surrounding Areas

Rent Prices in San Jose and Surrounding Areas

Rent prices have increased in San Jose over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the San Jose suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

• Rent increased in Sunnyvale, CA, Santa Clara, CA, Mountain View, CA, Milpitas, CA .

• Rent decreased in Fremont, CA, Redwood City, CA, Palo Alto, CA.

• 7 suburbs are currently priced higher than the city of San Jose.

Data set for San Jose and suburbs

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.