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As of September 2025, San José stands as one of the most expensive housing markets in North America, with single-family homes averaging $1.5-1.6 million and price per square foot reaching $872-914. The Costa Rican capital's property market presents significant financial barriers for potential buyers, with typical down payments exceeding $290,000 for median-priced homes and monthly carrying costs often surpassing $8,400 including taxes, insurance, and potential HOA fees.
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Single-family homes in San José average $1.5-1.6 million as of September 2025, making it one of the most expensive housing markets globally.
The total cost of homeownership extends far beyond the purchase price, with property taxes averaging $8,329 annually, insurance costs around $1,090-1,353 yearly, and potential HOA fees reaching $370+ monthly.
| Property Type | Average Price | Price per Sq Ft |
|---|---|---|
| Single-Family Home | $1.5M - $1.6M | $872 - $914 |
| Condo/Townhouse | $1.27M - $1.30M | Slightly lower than houses |
| Central Downtown | $1.55M+ (Almaden Valley) | Premium pricing |
| Suburban Areas | $1.48M (Evergreen) | More affordable options |
| New Construction | $216.60/sq ft premium | Significantly higher |
| Entry-Level Home | ~$1M (20% down = $200K) | High barrier to entry |
| Mid-Range Home | ~$1.5M (20% down = $300K) | Substantial investment required |
What's the average price of a single-family home in San José right now?
As of September 2025, single-family homes in San José average between $1.5 million and $1.6 million, with the citywide median consistently hovering around $1.5 million.
This pricing places San José among the most expensive housing markets in North America. The median sale price has remained relatively stable throughout 2025, reflecting the market's maturity and continued high demand despite economic uncertainties.
These figures represent actual sale prices rather than listing prices, providing a realistic view of what buyers are paying. The consistency in this price range across recent months indicates a stabilized market after years of rapid appreciation.
For context, this median price means that half of all single-family home sales occur above $1.5 million and half below, making homeownership accessible primarily to high-income households or those with substantial existing equity.
How much does a typical condo or apartment cost compared to a house?
Condominiums and townhouses in San José typically cost between $1.27 million and $1.30 million, representing a modest discount compared to single-family homes.
Popular developments like Silver Creek showcase these median prices, though luxury condo projects can exceed $1.5 million. The price difference between condos and houses is smaller than in many other markets, reflecting San José's overall housing scarcity.
Condos generally offer slightly lower price per square foot compared to detached homes, but the savings are often offset by monthly HOA fees that can range from $370 to over $725 monthly. This makes the total cost of ownership more comparable than the purchase price suggests.
For buyers seeking entry into the San José market, condos provide minimal savings while requiring additional monthly expenses and shared ownership responsibilities.
What's the price per square foot for homes in San José?
The average price per square foot for single-family homes in San José ranges from $872 to $914 as of September 2025.
This represents one of the highest price-per-square-foot rates in the United States, reflecting both land scarcity and construction costs in the Silicon Valley region. The median listing price per square foot stands at $804, though actual sale prices tend to be higher.
Condominiums typically command a modest discount per square foot compared to single-family homes, though specific data varies by development and location within the city. Premium neighborhoods and newer constructions can exceed $1,000 per square foot.
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How do prices vary between central neighborhoods and suburban areas?
Central San José neighborhoods command significantly higher prices than suburban areas, with premium locations like Almaden Valley averaging $1.55 million compared to suburban Evergreen at $1.48 million.
Downtown San José represents the most expensive rental market, with two-bedroom apartments averaging $6,236 monthly—substantially higher than the city average of $3,506 for similar units. This premium reflects proximity to employment centers and urban amenities.
Suburban neighborhoods like Blackford offer more affordable options, with two-bedroom rentals averaging $3,170 monthly. However, even these "affordable" suburban areas remain expensive by national standards.
The price differential between central and suburban areas is narrower than in many other major cities, indicating that even San José's suburban markets face significant demand pressure and limited inventory.
What's the current median listing price versus the median sold price?
The median listing price per square foot in San José is $804, while median home sold prices consistently remain around $1.5 million throughout 2025.
This relationship suggests that homes are generally selling close to their listing prices, indicating a balanced but competitive market. The gap between listing and sale prices has narrowed compared to the pandemic-era seller's market.
Properties in desirable neighborhoods and those in move-in condition continue to attract multiple offers, potentially selling above asking price. However, homes requiring significant updates or in less desirable locations may sell below listing price.
The stability between listing and sale prices indicates that sellers have adjusted their expectations to current market realities, while buyers have more negotiating power than during the peak market years.
How much is the average monthly mortgage payment for a $500,000 and a $1,000,000 home, assuming today's interest rates?
| Home Price | Loan Amount (20% down) | Principal & Interest Payment | Total Monthly Payment* |
|---|---|---|---|
| $500,000 | $400,000 | $2,398 | $2,800 |
| $1,000,000 | $800,000 | $4,796 | $5,600 |
| $1,500,000 | $1,200,000 | $7,194 | $8,400 |
| $2,000,000 | $1,600,000 | $9,592 | $11,200 |
| $2,500,000 | $2,000,000 | $11,990 | $14,000 |
What's the average annual property tax bill for a standard-sized home in San José?
The median annual property tax bill in San José is approximately $8,329, though the typical range spans from $6,300 to $10,283 depending on the property's assessed value and location.
Affluent zip codes can see property tax bills reaching $13,091 or higher annually. The effective tax rate typically falls between 1.1% and 1.3% of the property's assessed value, making San José's property taxes relatively moderate compared to some East Coast markets.
For a median-priced $1.5 million home, owners can expect annual property taxes of approximately $16,500 to $19,500, representing one of the largest ongoing ownership costs. These taxes fund local schools, municipal services, and infrastructure maintenance.
Property tax assessments are based on purchase price and adjusted annually, meaning recent buyers face higher tax bills than long-term owners whose assessments remain protected by Proposition 13 limitations.
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How much do homeowners typically pay for insurance each year?
Homeowners in San José typically pay between $1,090 and $1,353 annually for home insurance coverage.
These costs reflect California's earthquake risk, wildfire exposure, and high property values that require substantial coverage limits. Premium costs vary based on the home's age, construction materials, security features, and proximity to fire-prone areas.
Many homeowners purchase additional earthquake insurance, which can add $800 to $2,000 annually depending on the home's construction and deductible levels. Flood insurance may also be necessary for properties in designated flood zones.
For a $1.5 million home, comprehensive insurance including earthquake coverage typically costs $2,500 to $4,000 annually, representing a significant ongoing expense that buyers must factor into their total cost of ownership.
What's the average cost of HOA fees if you buy a condo or a townhouse?
HOA fees for condos and townhouses in San José average $370 monthly, though many complexes range from $100 to $725 monthly or higher for luxury developments.
These fees typically cover exterior maintenance, landscaping, insurance for common areas, amenities like pools or fitness centers, and professional management services. Luxury developments with extensive amenities can charge $1,000+ monthly.
HOA fees in San José are particularly high due to earthquake preparedness requirements, premium insurance costs, and the need for seismic retrofitting in older buildings. New developments often have lower initial fees that increase over time.
Buyers should budget for annual HOA fee increases of 3-5% and potential special assessments for major repairs or improvements, which can add thousands of dollars in unexpected costs.
How much more does a newly built home cost compared to an older one per square foot?
New homes in San José cost $216.60 more per square foot compared to older existing homes, representing one of the largest new-versus-old price premiums in the United States.
This substantial gap reflects buyer preference for modern construction, energy efficiency, updated systems, and contemporary design. New homes also avoid the immediate renovation costs that older properties often require.
The premium also reflects San José's challenging permitting and construction environment, where new development faces significant regulatory hurdles and high labor costs. Limited new construction supply further drives up prices for available new homes.
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We did some research and made this infographic to help you quickly compare rental yields of the major cities in Costa Rica versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What's the typical down payment required in San José for an entry-level and a mid-range home?
Entry-level homes around $1 million typically require down payments of $100,000 for 10% down or $200,000 for the standard 20% down payment.
Mid-range homes at the $1.5 million median price point require $300,000 for a 20% down payment. Many California buyers in this price range put down $250,000 to $320,000 or more to strengthen their offers in competitive situations.
Jumbo loans above $766,550 often require higher down payments and stronger credit profiles, making 20% down payments more common than the national average. Some buyers opt for 25% or 30% down payments to avoid jumbo loan restrictions.
These substantial down payment requirements represent one of the biggest barriers to homeownership in San José, requiring years of savings even for high-income professionals.
How have home prices in San José changed in the past five years, in percentage terms and dollar amounts?
San José home prices have increased 38.09% over the past five years, rising from a median of $1,177,500 in 2020 to $1,626,041 in 2025.
This represents an annualized price appreciation of 7.0% for median sale price per square foot over the five-year period. The dollar increase totals $448,541, meaning homeowners gained substantial equity during this period.
The appreciation reflects extraordinary demand driven by tech industry growth, limited housing supply, and historically low interest rates through 2022. Price growth has moderated in 2024-2025 as interest rates increased and buyer demand cooled.
Despite slower recent growth, San José's five-year appreciation significantly outpaced national averages and inflation, underscoring the market's resilience and continued desirability among high-income buyers.
It's something we develop in our Costa Rica property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
San José's housing market represents one of the most expensive real estate environments in North America, with median home prices approaching $1.6 million and total ownership costs often exceeding $10,000 monthly.
The substantial financial requirements—including down payments of $300,000+ and annual carrying costs of $25,000-30,000—make homeownership accessible primarily to high-income households or those with significant existing wealth.