Santa Clara County's median single-family home sold for $1,906,000 in 2024 — nearly 220% of the California statewide median. For the minority who own here, the balance sheet is extraordinary. The cash position often is not.
The 2025 FHFA conforming loan limit for Santa Clara County — designated a high-cost county — is $1,209,750. With the county median single-family sale price at $1,906,000 in 2024, a standard purchase mortgage here exceeds the jumbo threshold by nearly $700,000. Fannie Mae and Freddie Mac do not purchase loans above that ceiling, which means virtually every primary purchase mortgage in the county is underwritten outside the conforming market, subject to portfolio lender terms and non-standardized credit requirements.
Only 55.1% of Santa Clara County residents own their homes — below the national average of 65.2%. That sub-population holds median property values 4.48 times the U.S. figure of $332,700. One in every 805 homes listed for sale across Santa Clara and San Mateo counties combined is affordable for a household earning $100,000 per year, according to a November 2024 report from Joint Venture Silicon Valley. Ownership here is concentrated, and so is the equity.
Proposition 13, added to the California Constitution on June 6, 1978, caps the base property tax rate at 1% of assessed value at acquisition and limits annual increases to no more than 2%. Reassessment to current market value occurs only upon a change of ownership or completion of new construction. A homeowner who purchased in 2000 may be paying taxes on an assessed value that is less than half of today's market price. The gap between assessed and market value is real — and selling to access equity means surrendering that tax base permanently.
Proposition 19, passed in November 2020, narrowed the intergenerational transfer option. A child or grandchild who inherits a family property must occupy it as a primary residence within one year to retain the lower assessed value. Even then, the protection is capped: the exclusion covers only the prior taxable value plus $1,044,586 for transfers occurring between February 16, 2025, and February 15, 2027. On a property worth $2 million or more — common in this county — that ceiling is binding.
California's income tax adds a further constraint on any forced liquidation. The top marginal rate is 13.3% under Cal. Rev. & Tax. Code § 17041, with a 1% surcharge on income above $1 million for behavioral and mental health services. Effective January 1, 2024, the removal of the SDI payroll tax wage ceiling raised the effective combined rate to 14.4% — the highest state income tax rate in the country. Selling appreciated property or concentrated stock generates a taxable event at that rate. A collateral-backed loan does not.
Santa Clara County is home to three of the five largest technology companies in the world by market capitalization as of 2024: NVIDIA (ranked first), Apple (ranked third), and Alphabet/Google (ranked fourth). Cisco, Adobe, Intel, PayPal, Netflix, eBay, Applied Materials, and Zoom also maintain principal operations in the county. Technology — defined as employment in professional, scientific and technical services and information — accounts for 22.6% of total county jobs, more than double California's statewide share of 10.5%. Per capita personal income reached $153,800 in 2023, ranking fourth among California's 58 counties.
That concentration produces a recognizable borrower profile: equity compensation is standard, and immediate liquidity is not always available. RSUs issued by private companies use double-trigger vesting structures — shares do not settle until both a time condition and a liquidity event such as an acquisition or IPO are satisfied. As private companies extend the time before going public, employees accumulate equity that cannot yet be sold. When vesting does occur, California's rate structure makes liquidating beyond the minimum a costly decision.
The conditions in Silicon Valley — extreme property values, a jumbo-only mortgage market, Prop 13 tax lock-in, Prop 19 inheritance restrictions, concentrated equity compensation with illiquidity risk, and a state income tax that penalizes forced sales — produce borrowers for whom a non-sale liquidity path has concrete value. CaLuxeLoans works with licensed lender partners to structure asset-backed loans against qualifying collateral. Details on the process are on the how it works page; common questions are answered in the FAQ. Borrowers researching adjacent California markets may also find the San Francisco page relevant.
No figures on this page constitute a loan offer or commitment to lend. All loans are originated by licensed lender partners. Amounts, rates, and eligibility depend on collateral review, applicable California and federal law, and individual lender underwriting criteria. See our disclosures for licensing and regulatory detail.
Loans are originated by licensed lender partners. Loan offers, terms, rates and final decisions are made by the originating licensed lender at appraisal — figures shown here are general guidance, not loan offers.
Last reviewed September 6, 2026.
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