Silicon Valley stands out as a prime destination for job seekers due to numerous reasons.
As of September 2024, the unemployment rate in Silicon Valley was 4.1% which is significantly lower than the national average, indicating a strong job market. In fact, the San Jose-Sunnyvale-Santa Clara metropolitan area added 3,600 new jobs between August and September 2024.
While the tech industry dominates, Silicon Valley also offers opportunities in other sectors such as healthcare, education, finance, and manufacturing. The average hourly wage in Silicon Valley is $54.68 which is substantially higher than the national average of $31.48, highlighting the competitive compensation offered in the area.
As an example of the cost of living in Silicon Valley, we took San Jose, CA as our target city. San Jose's cost of living is 27% higher than the state average and 76% higher than the national average.
| Cost of Living in San Jose, CA | Compared to State Average | Compared to National Average |
|---|
| Housing (Buy and Rent) | 65% higher | 225% higher |
| Utilities (Monthly) | 11% higher | 37% higher |
| Food | 0% | 14% higher |
| Healthcare | 13% higher | 22% higher |
| Transportation | 4% higher | 34% higher |
| Goods & Services | 0% | 10% higher |
More data and info at
Rentcafe San Jose