Goods and services here are 25% more expensive than the normal, it is believed that most people who live here are involved in tech in one way or the other But San Jose isn’t all engineers and programmers flush with cash (or stock options). A dire affordable housing shortage has left teachers, landscapers, security officers, and thousands of minimum-wage workers virtually homeless.
The metro area is made up of two counties, Santa Clara and San Benito. It the second most populous metro in the bay area behind San Francisco-Oakland-Hayward, locals believe san-jose to be the epicenter of silicon valley where the employees of top ranking tech companies like “Google, facebook, and apple live.
Julia David, a 25-year-old contract employee at PayPal and MBA student at San Jose State University, told Business Insider that”Everyone you meet is directly working in tech, working for a tech startup, or working for a company that funds technology companies,”
San-jose economy is said to be the fastest growing economy in the US.The unemployment rate in the San Jose metro was 2.5% as of December 2018, compared to 3.9% nationally. The most popular jobs in the area include mechanical engineer,software engineer, and senior software engineer, and their pay ranges between $77,268 and $134,718 a year. It is said that 57%, that more than half of all house hold in the jose metro area earns a six figure, but funny enough that not still enough to buy a house.
And this rise in price has caused many to move out, that meand for you to live in the area you need to be on an income of at least $257,247 to qualify for a mortgage with 20% down, But it’s not just housing costs eating up paychecks. San Jose’s cost of living is the highest of any metro in the US. As of 2016, goods and services were about 27% more expensive than the national average.
Either way san jose is still a beautiful and an enjoyable place to live. Well that if you can afford it.