San Jose named world's richest city by GDP per capita

San Jose has been named the world's richest city in terms of GDP per capita according to the 2026 Global City Index by Oxford Economics. Based on 2025 data, San Jose's GDP per capita reached $238,700, significantly outpacing San Francisco, which ranked second at $181,889.

Despite the high income, the city faces extreme cost-of-living challenges. A 2025 report from San Jose State University indicates that living expenses in the city are 81% higher than the U.S. average. To afford a median-priced home, a household requires an annual income of approximately $370,000.

Housing costs remain a critical issue; the average home price in Silicon Valley reached $1.92 million in 2024, and two-bedroom apartment rents in Santa Clara County have risen 90% over the last decade. These pressures have forced some residents to live in mobile homes, trucks, or boats. As a central hub of Silicon Valley, San Jose hosts major corporations including Cisco Systems and eBay, with nearby headquarters for Google, Facebook, and Apple.