Milpitas, California.
Typical home $1,385,691 (-1.2% in a year), asking rent $3,614 (+10.1%). San Jose-Sunnyvale-Santa Clara, CA metro.
to buy the typical home at today's mortgage rate — +$3,655 (+101%) since Jan 2020.
- 1 year
- Down $16,465 -1%
- $1,402,156$1,385,691 since Sep 2025
- 5 years
- Up $204,605 +17%
- $1,181,086$1,385,691 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Milpitas$7,273
- California$3,997
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 22 years.
Typical home values in Milpitas, CA fell 1.2% over the past year — slower than the nation's +1.2%.
Asking rents in Milpitas, CA rose 10.1% over the past year — faster than the nation's +2.7%.
Owning the typical home in Milpitas runs $5,917/mo more than renting one. The gap peaked at $7,135 in Jan 2025.
That is $9,531 a month against $3,614 rent: a $7,273 mortgage payment, plus $775 property tax and $1,483 insurance & upkeep.
Owning vs renting — Milpitas
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$9,531
- Renting$3,614
- Mortgage only$7,273
Property tax · $775/mo 0.67% of value a year — the ACS 2020-2024 median bill over the median home value for Santa Clara County, CA
Insurance & upkeep · $1,483/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Milpitas, Santa Clara County, California
Milpitas is a city of 80,273 people in Santa Clara County. Half its households earn more than $178,798 a year and half less, against $164,281 across Santa Clara County; 6% of its people live below the poverty line. 58% of its homes are lived in by their owners and 42% are rented. Unemployment in Milpitas was 4.2% in August 2026, and Santa Clara County had 0.3% more jobs in 2025 than the year before. The most residents work in professional services, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Milpitas is a city in Santa Clara County where incomes run above the county's, and a good share of adults hold a four-year degree. Most homes are lived in by their owners, though homes and rents both cost a lot. Residents are somewhat younger than in many American towns, and a fair number work from home.
Work. Many residents work in professional and business services, manufacturing, schools and hospitals, and shops. Among the largest workplaces in Milpitas are Sandisk Technologies, Becton Dickinson and the Milpitas Unified school district. Commutes are of middling length, and unemployment has eased a little compared with a year earlier.
Things to do. California's Great America, an amusement park, is a short drive away, as is Levi's Stadium, where big games are played. The Rosicrucian Egyptian Museum is also a short drive off, and the Computer History Museum is a longer drive. Winters are mild and cool, summers warm, and rain is light across the year.
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- 25,066households
- 58%of adults have a degree
- 6%below the poverty line
- 26 mintypical commute
- 25%work from home
What residents work in
Employed residents by industry, from the Census survey. Santa Clara County had 1,119,582 jobs in 2025, 0.3% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in December, with highs near 60° and lows near 42°; warmest in August, with highs near 81° and lows near 59°. About 13 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the San Jose weather station, 5 miles away (NOAA).
Largest workplaces in Milpitas
- Sandisk TechnologiesStorage devices, computer, manufacturing1,272
- Becton DickinsonSpectrofluorometers manufacturing919
- Milpitas UnifiedSchool district805FTE
- Headway TechnologiesHeads manufacturing790
- Preston InfrastructureDistribution line, sewer and water, construction521
- WeeeCold storage warehousing472
- WalmartWarehouse clubs and supercenters343
- Johnson JohnsonManufacturer of surgical and medical instruments296
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 86 workplaces with 20 or more staff, 10,825 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Inland floodingVery high
- EarthquakesRelatively high
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Milpitas’ census tracts, against the rest of the country; all of them together, very high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Santa Clara County and the San Jose-Sunnyvale-Santa Clara, CA metro.
Milpitas home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Milpitas$1,385,691
- California$761,538
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 4 Milpitas listings, and the typical home goes pending in 14 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Milpitas26.52%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Milpitas14
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Milpitas112
New listings per month
Sellers arriving at the market.
- Milpitas46
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Milpitas$1,290,212
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Milpitas100.91%
Zip codes with a Milpitas address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Milpitas — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.