San Jose facts and figures to consider
Before a potential homebuyer purchases real estate in San Jose, it is important that he or she researches the market. According to a report published by the San Jose Department of Planning, Building & Code Enforcement, Planning Edition, the 10th largest city in the nation has a population of 971,372. Other important facts a possible resident may want to consider are average earnings for workers and which organizations have a strong presence in the community.
The numbers on employment in San Jose
The income distribution in a metro area allows a potential homebuyer to determine how well his or her background and fiscal prosperity will fit in with the neighbors. Living in a city with a substantially lower income distribution may make an individual feel economically blessed or overly prosperous for the region. In contrast, if a homebuyer purchases a home in an area largely populated by residents with higher annual incomes, he or she may feel cash-strapped by comparison.
The U.S. Census Bureau reports that 9 percent of the population in San Jose make under $15,000 a year, 16 percent earn between $15,000 and 34,999 and 11 percent make between $35,000 to $49,000. In addition, 14 percent of the population makes between $50,000 and $74,999 and 13 percent between $75,000 and $99,000. Those making between $100,000 and $149,999 make up the largest percentage of earners in San Jose, at 17 percent. The portion of the population making greater than $149,999 declines to 10 percent for $150,000 to $199,000 and 11 percent for $200,000 or more.
The top seven earning industries are information at an average wage of $221,488, manufacturing at $166,325, wholesale trade at $114,336 and management at $113,823. Following those industries are utilities at $105,349, professional/technical at $103,617 and finance and insurance at $84,211, according to the California Employment Development Department.
Largest employers in San Jose
For some people, working at a company with a large presence in the local community may be a positive characteristic. Some believe that organizations with ties to a city are more committed to their employees.
According to the San Jose Office of Economic Development, the five businesses that employ the greatest number of San Jose residents are the County of Santa Clara at 14,950 people, Cisco Systems at 13,600 workers, City of San Jose at 5,400, San Jose State University at 4,780 people and eBay at 4,700 professionals.