Matrix Multifamily San Jose Report-July 2025

Market Overview

San Jose’s multifamily market is showing recovery in mid-2025. Advertised asking rents rose 0.6 percent on a trailing three-month basis through May, reaching $3,259—30 basis points above the national average. Despite high deliveries in 2024, occupancy improved by 10 basis points year-over-year, moving closer to long-term norms.

About Yardi Matrix

Yardi Matrix is a leading provider of commercial real estate data and analytics spanning multifamily, student housing, self-storage, and other asset classes. Their metro-level multifamily reports deliver timely insights into rent trends, occupancy, development pipelines, and market fundamentals—helping investors, operators, and analysts make informed decisions.