San Jose Multifamily Market Report – July 2025

Market Overview

‍The metro San Jose multifamily market remains among the tightest in the U.S. heading into Q3 2025, with occupancy hovering near 96 percent and average asking rent around $3,120 per unit. New deliveries are limited, keeping supply growth measured and positioning the region for stable rent gains even as affordability and regulatory risk remain elevated.

‍About Yardi Matrix

‍Yardi Matrix is a data-driven research and analytics firm specialising in multifamily housing markets. Their San Jose market report aggregates metro-level insights on rent trends, occupancy levels, supply pipelines and investment activity to help owners, developers and investors assess timing, risk and strategic positioning. To read the full report, click here.