HomeUnion names San Jose top single-family rental market in the nation

The metro has the lowest homeownership rate of major markets nationally
  • There are nearly 100,000 single-family rentals in the San Jose metro.
  • Single-family homes in San Jose are purchased at an average cap rate of 3.3 percent.
  • San Jose's median household income is just below $100,000.

Low homeownership rates within the San Jose metro suggest the demand for single-family rental homes will expand this year.

According to HomeUnion, rents at single-family homes are expected to rise by 7.3 percent year-over-year, with the average rent climbing to $3,459.