Home values in San Jose have risen 17.4% over the past year, topping Zillow's list. The median home value in San Jose is $1.13 million and is expected to grow by 8.9% this year, according to Zillow.
San Jose's housing strength is buoyed by a strong jobs market. Glassdoor estimates that San Jose has 0.36 job opening per person, the highest rate among large U.S. metropolitan areas. The median household income is $110,040.
Raleigh and Charlotte, NC were ranked second and fourth on the list, as the state continues to be a housing destination.
"Both areas boast strong income and population growth, as fast-growing Research Triangle anchor Raleigh becomes better known for innovations outside its life sciences base and Bank of America headquarters Charlotte builds on its reputation as a financial center," Zillow said.
The median household income in Raleigh is $71,685 and Zillow forecasts a 3.7% increase in home value. Charlotte's median household income is $59,979 and home values are forecast to increase 4%.
Seattle, San Francisco, Austin, Denver, Nashville, Portland, OR and Dallas rounded out the top-ten hottest job markets.
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