Blog > What It Costs to Own a Home in the South Bay, City by City (2026)
What does it cost each month to own a home in the South Bay? We took the median house and the median condo or townhome sold in the last 12 months in six Santa Clara County cities, San Jose, Mountain View, Campbell, Milpitas, Morgan Hill and Gilroy, and ran each with 20% down at 7.24%, Freddie Mac’s 30-year average for the week of October 29, 2026, plus each city’s own typical property tax rate. The median house runs from about $7,480 a month in Gilroy to $18,930 in Mountain View.
The short answer
- Mountain View: median house $2.95M, about $18,930 a month; median condo or townhome $1.43M, about $9,140.
- Campbell: median house $2.17M, about $14,020 a month; median condo or townhome $1.05M, about $6,770.
- San Jose: median house $1.65M, about $10,670 a month; median condo or townhome $776K, about $5,010.
- Milpitas: median house $1.62M, about $10,360 a month; median condo or townhome $1.11M, about $7,110.
- Morgan Hill: median house $1.52M, about $9,740 a month; median condo or townhome $882K, about $5,630.
- Gilroy: median house $1.16M, about $7,480 a month; Gilroy had only 28 condo and townhome sales in the last 12 months, under the 30 a year we use for a city-wide condo figure.
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Six cities compared
| City | Median house | 20% down | Per month | Median condo or townhome | Per month | Houses under the conforming line |
|---|---|---|---|---|---|---|
| Mountain View | $2.95M | $590,000 | $18,930 | $1.43M | $9,140 | under 1% |
| Campbell | $2.17M | $434,000 | $14,020 | $1.05M | $6,770 | 8% |
| San Jose | $1.65M | $330,000 | $10,670 | $776K | $5,010 | 44% |
| Milpitas | $1.62M | $324,000 | $10,360 | $1.11M | $7,110 | 46% |
| Morgan Hill | $1.52M | $305,000 | $9,740 | $882K | $5,630 | 53% |
| Gilroy | $1.16M | $232,000 | $7,480 | too few sales | — | 80% |
Gilroy had only 28 condo and townhome sales in the last 12 months, under the 30 a year we use for a city-wide condo figure.
What drives the difference
Price, almost entirely. Typical property tax rates run from 1.1297% in Morgan Hill to 1.2197% in San Jose, which on a $1.5M home is about $110 a month. The loan is the rest: at 7.24%, each $1M borrowed costs about $6,810 a month in principal and interest. And the 2026 conforming limit, $1,249,125 (FHFA), splits these cities: with 20% down, 80% of Gilroy houses sold at or under the conforming line in the last 12 months, against 1 of 213 Mountain View houses.
What isn’t in these numbers
- Homeowners insurance.
- HOA dues on condos, townhomes and some houses.
- Parcel taxes and fixed charges, which vary by address.
- The supplemental tax bill after you buy.
- Maintenance, and mortgage insurance below 20% down.
The median house at other rates
20% down, mortgage and property tax per month.
| City | 6.24% | 7.24% (this week) | 8.24% |
|---|---|---|---|
| Mountain View | $17,360 | $18,930 | $20,560 |
| Campbell | $12,870 | $14,020 | $15,220 |
| San Jose | $9,790 | $10,670 | $11,580 |
| Milpitas | $9,500 | $10,360 | $11,260 |
| Morgan Hill | $8,930 | $9,740 | $10,590 |
| Gilroy | $6,870 | $7,480 | $8,120 |
The entry point in each city
A quarter of each city’s sales in the last 12 months were at or below these prices. 20% down, 7.24%, tax included.
| City | Entry-level house | Per month | Entry-level condo or townhome | Per month |
|---|---|---|---|---|
| Mountain View | $2.4M | $15,400 | $940K | $6,030 |
| Campbell | $1.87M | $12,080 | $768K | $4,960 |
| San Jose | $1.3M | $8,400 | $595K | $3,840 |
| Milpitas | $1.38M | $8,820 | $855K | $5,470 |
| Morgan Hill | $1.21M | $7,740 | $722K | $4,610 |
| Gilroy | $925K | $5,980 | too few sales | — |
Each city in detail
- What it costs to own a home in San Jose and San Jose property tax rate
- What it costs to own a home in Mountain View and Mountain View property tax rate
- What it costs to own a home in Campbell and Campbell property tax rate
- What it costs to own a home in Milpitas and Milpitas property tax rate
- What it costs to own a home in Morgan Hill and Morgan Hill property tax rate
- What it costs to own a home in Gilroy and Gilroy property tax rate
Questions we get
Which of these cities costs the least to own in?
Of these six, Gilroy: the median house ($1.16M) runs about $7,480 a month with 20% down at 7.24%, tax included.
How much is a 20% down payment on the median house?
At each city’s median, from $232,000 in Gilroy to $590,000 in Mountain View, plus closing costs.
Do property tax rates differ by city?
A little: typical 2025–26 rates run from 1.1297% in Morgan Hill to 1.2197% in San Jose. Each city’s property tax post explains its rate.
For Palo Alto, Los Altos, Sunnyvale, Cupertino, Santa Clara, Los Gatos and Saratoga, see what it costs to own in Silicon Valley, city by city.
How we counted
Medians of closed sales reported to the MLS and read through the IDX feeds that power our home search, one record per sale with a usable living area and map position, the same rules as our city price posts. Houses are MLS property type “single family home”; condos include townhomes. The window is the last 12 months (October 28, 2025 to October 27, 2026). Payments: 20% down, 30-year fixed at 7.24% (Freddie Mac PMMS, week of October 29, 2026; a national conforming average, so jumbo rates can differ). Property tax: each city’s typical 2025–26 rate from the county’s rate book (the rate where the middle dollar of the city’s assessed value sits), after the homeowners’ exemption. Past sales aren’t a forecast or the value of any one home, and nothing here is financial, tax or legal advice.
Talk to a Property Nerd
We’re the Property Nerds at Compass, recognized as NextGenAgents by a national real estate portal. We’ll pull the sales that matter for your home and your plans, and walk you through what they mean. Call (408) 373-1660 or (650) 383-8606, or book a strategy call. Commissions are negotiable, and we offer bundled services, so ask us what’s included.