San Jose multifamily market, October 2026

Landlords have the edge in San Jose, and it is heating: asking rents are up 8.6% on a year, while jobs grew 1.6%.

Updated October 31, 2026 · from Zillow, BLS and the US Census Bureau

+8.6%

Asking rent, year over year

Zillow · September 2026

+1.6%

Jobs, year over year

BLS · September 2026, preliminary

3.9%YEARLY

Vacancy

Census · 2024 count

What is moving now

Asking rents are up 8.6% on a year to September 2026, which is the figure the condition is read from. Jobs are up 1.6% over the same year to September 2026, a first release the BLS revises the following month. Asking rents are climbing and jobs are growing (September 2026).

The backdrop

These are yearly Census counts, not this month's: 3.9% of rentals sat empty in 2024, permits for new apartments were up 86% in 2025, more people moved out than in in 2025, and the typical rent was $2,827 a month in 2024. They are the background the monthly figures move against, and they are the newest the Census has published.

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Common questions about San Jose

Answered from the data, updated October 31, 2026

Is the San Jose rental market tight or soft right now?

In San Jose right now, landlords have the edge, and it is heating.

Which way is the San Jose market heading?

San Jose is heating right now, as asking rents firm over the past year (Zillow ZORI, monthly).

Is San Jose a landlord's or a renter's market?

San Jose is a landlord's market right now: landlords have the edge, and it is heating.

What is the vacancy rate in San Jose?

Vacancy in San Jose is 3.9% in the 2024 count, a yearly snapshot rather than a monthly reading (US Census Bureau).

How much have San Jose rents changed?

Asking rents in San Jose are up 8.6% over the past year (Zillow ZORI, monthly, latest Sep 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

San Jose Multifamily Market Heats Up as Investment Activity AcceleratesMultifamily Executive

Eden Housing celebrates grand re-opening with city |Register-Pajaronian

Downtown San Jose heats up as more apartments change handsCoStar

Oberndorf Real Estate Management and The Bascom Group Acquire 117-Unit Museum Park Apartments inMultifamilyBiz

Kennedy Wilson, Partners Acquire 312-Unit Multifamily Community in San Jose for $176MREBusinessOnline

What Is Hulic (TSE:3003) Signaling With Its San Jose Multifamily Deal?Yahoo Finance

See all San Jose news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.
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