Santa Clara’s housing market is experiencing notable shifts, with recent data indicating a decrease in home prices. As of March 2026, the median sale price was $1.6 million, reflecting a 9.76% decline from the previous year. Despite this, the market remains competitive, with homes typically receiving multiple offers and selling in approximately nine days. The median sale price per square foot has risen by 6.6% year-over-year, now standing at $1,110.
In the rental sector, the average rent in Santa Clara is $3,727 per month, marking a 6.1% increase over the past year. This upward trend underscores the sustained demand for rental properties in the area.
Several significant housing developments are underway to address the evolving needs of the community. The Moonlite Residential project at 2610 El Camino Real proposes a housing complex with 601 units, including approximately 27% designated as below-market-rate rentals. Additionally, the Agrihood development at 76 N. Winchester Blvd. offers affordable housing for seniors and veterans, featuring a community farm and other amenities. Another notable project, Ryder Square at 3517 Ryder Street, plans to transform a former business park into a 328-unit multi-family apartment complex, with construction anticipated to begin in the third quarter of 2024 and completion expected by the end of 2026.
These developments aim to provide diverse housing options and alleviate some of the pressures in Santa Clara’s dynamic real estate market.