Matrix Multifamily San Jose Report-July 2022 July 27, 2022

Record Rents in San Jose

San Jose’s multifamily rents reached a new high, growing 1.8 percent on a T3 basis through May, to an average of $3,006. After a record-breaking year in 2021 with 7,230 units added to the rental stock, deliveries did not start the year at a similar clip, with only 500 units added.