AI is Powering a Silicon Valley Housing Rebound

The areas gaining fastest are the ones where tech workers live

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Bay area employees of OpenAI, Anthropic, and Perplexity are using secondary share sales to fund home purchases, fueling a rebound in the local housing market. In mid-2023, the San Jose metro area—home to Silicon Valley—ranked 3rd-worst out of the 100 largest US metros for year-over-year home price growth. In the second half of 2025, it ranked 20th. The map below shows the hottest Bay area ZIP codes are those with the highest proportion of tech workers.