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San Jose
It comes as no surprise that the current median home price is over $1 million. Investors are loving the San Jose real estate market because of the rapid and high appreciation rates. As of late 2016, investment properties appreciated by $121,178 in just one year (10.7 percent), $318,034 in three years (34.2 percent), and $532,253 in just five years! The home prices are going through the roof but investors are definitely gaining equity quickly from San Jose real estate. Investing in San Jose real estate has more long-term benefits than short-term.
Besides home appreciation rates, the economy is doing well. The unemployment rate has been low (4.1 percent) and continues to be lower than the national average (4.9 percent). Job growth has also outperformed the national average. Jobs grew by 3.9 percent in mid 2016, compared to national average at 1.9 percent.
The biggest challenge with investing in San Jose real estate is affordability. However, there has been construction which should hopefully make properties more affordable.
