San Jose is a global city, notable as a center of innovation, for its affluence, Mediterranean climate, and very high price of residing. San Jose’s spot inside the booming high tech sector, as a cultural, political, and financial center has earned the city the nickname “Capital of Silicon Valley”. San Jose is one of the wealthiest key cities in the United States and the world, and has the third highest GDP per capita in the world (following Zürich, Switzerland and Oslo, Norway), according to the Brookings Institution. The San Jose Metropolitan Location has the most millionaires and the most billionaires in the United States per capita. With a median property cost of $1,085,000, San Jose has the most pricey housing industry in the country and the fifth most pricey housing industry in the world, according to the 2017 Demographia Global Housing Affordability Survey. Major global tech firms such as Cisco Systems, eBay, Adobe Systems, PayPal, Broadcom, Samsung, Acer, Hewlett Packard Enterprise, and Western Digital sustain their headquarters in San Jose, in the center of Silicon Valley.
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Prior to the arrival of the Spanish, the area all around San Jose was inhabited by the Tamien nation of the Ohlone peoples of California. San Jose was founded on November 29, 1777, as the Pueblo de San José de Guadalupe, the 1st city founded in the Californias. It then became a component of Mexico in 1821 following the Mexican War of Independence. Following the American Conquest of California for the duration of the Mexican–American War, the territory was ceded to the United States in 1848. Following California attained statehood two many years later, San Jose became the state’s 1st capital. Following Globe War II, San Jose experienced an financial boom, with a rapid population growth and aggressive annexation of close by cities and communities carried out in the 1950s and 1960s. The rapid growth of the high-engineering and electronics industries more accelerated the transition from an agricultural center to an urbanized metropolitan area. Final results of the 1990 U.S. Census indicated that San Jose had officially surpassed San Francisco as the most populous city in Northern California. By the 1990s, San Jose and the rest of Silicon Valley had become the global center for the high tech and world wide web industries, generating it California’s fastest-increasing economy.