Real estate in Santa Clara has been steadily on the rise since the area became the site for the headquarters of many leading technology companies. What was once open land filled with fruit orchards is now wide streets, sprawling corporate campuses, and residential blocks. Finding the right home in the Bay Area can be a challenge as home prices are typically high and the size of the home smaller than those outside Silicon Valley. The number of new real estate while on the rise is significantly less than that in the East Bay or North Bay where more land is available. As a result the percent of unoccupied properties is very low in Santa Clara. It is -9.17% below the national average.
Living in Santa Clara in the heart of the Bay Area is ideal for many people who are looking to be less than an hour’s drive to the ocean, a few hours from winter sports, close to a major metropolitan city but away from it, dine on the freshest seafood and produce available, and enjoy cultural events.
The population of Santa Clara has a median household income of $79,349 with 1,456 households earning $35,000 to $40,000 annually. The population in Santa Clara in 2012 is more than 109,000, with a population growth of over 7%.
The city of Santa Clara describes the city as not a typical Bay Area city. Its facilities and utility costs are among the most affordable in the country.
The City of Santa Clara is not your typical Bay Area city. It’s better. Voted one of ten All-America Cities in the New Millennium by the National Civic League, Santa Clara has a “High Tech, Human Touch, H2” ™ approach to serving the community’s needs.
It offers the region’s lowest combined utility costs in the nine Bay Area counties, with savings of 30 to 40% on electricity alone, and it is consistently rated one of the most affordable cities in the nation for business.
Santa Clara is a Charter City with a Council/Manager form of government. The City’s financial stability ensures the highest levels of citizen and business service, low business taxes and solid real estate value, and it is also one of the safest U.S. cities with a population of 75,000+. Our outstanding public safety record includes the highest fire rating in Santa Clara County and some of the fastest emergency response times in the state.
The temperate Mediterranean climate is comfortable year round with few nights dipping below freezing in the winter and few days getting hotter than 90 degrees.
For residents the average commute time is 19 minutes. Approximately 90% of people commute by car with only 3% using public transport. The number of homes is 41,900 with 12,436 of homes with children
Santa Clara’s schools rank among the best in California and are at the forefront of those in the Bay Area for academics and sports. The Santa Clara Unified School District runs the public schools. There are 23 public schools in the Santa Clara Unified School District; eight elementary schools; seven middle schools; and six high schools. Ten schools are public charter schools.
Among the private schools, there are 56 schools. There are 53 preschool and elementary schools; 13 middle schools; and eight high schools.
With the great facilities, public schools and comparatively affordable living standards (when compared to other cities in the Bay Area), Santa Clara’s real estate is healthy. The median sale price for homes in Santa Clara over the last 12 months is $495,000. The median mortgage debt is $448,352. Median listing price of a home is $525,980. The most recent price per square foot for listings in this area is $421.
The average price of a two-bedroom home was $337,526 in May 2012; three-bedroom home was $618,807; and $895,839 for four bedrooms.
The percent of owner occupied properties in Santa Clara is 19.66% below the national average.
The percent of rental properties in Santa Clara is 31.63% above the national average which is typical for urban areas.
Santa Clara Demographics and Information at a Glance
Population: 109,756
Population growth: 7.1%
Population density: 5,898
Median age: 36 years
Median income: $79,077
Average January temperature: 39 degrees F.
Average July temperature: 82 degrees F.
Average days of sunshine: 261
Days of precipitation: 54
Average rainfall: 14 inches
Unemployment rate: 5.5%
Job growth: 1.1%
Expected job growth: 26%
Democrat: 63.9%
Republican: 34.6%
Independent: 1.4%
School expenditures: $5,008
Pupil/Teacher ratio: 22
Students/Librarian: 2,337
Students/Counselor: 1,079
The population of Santa Clara is broken down as:
• 53.5% male
• 46.4% female
• 54.8% married
• 45.1% single
• 26% families with children
Santa Clara Housing Stats
• 69.7% of homes are owned
• 7.8% of homes/apartments are rented
• 22.4% of homes are currently vacant
• Median home age: 37 years
• Median home value: $583,092
Sources:
http://www.realestate.com/local/community/CA/Santa+Clara/
http://www.trulia.com/real_estate/Santa_Clara-California/market-trends
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