It's not a trendy suburb. The Cupertino school district (includes some of SJ and Saratoga) is a much bigger draw for young families than a short commute.
Broadly speaking, the further east you go in the Valley, the lower the prices get.
Santa Clara's house prices have been trending up for many years because it's a short commute to many companies full of highly-paid people. Nvidia's recent market cap surge has little to do with it. https://www.redfin.com/zipcode/95050/housing-market
we're agreed on that, anyway.
Lower-cost areas that are very near higher-cost areas will almost always come up in value. People priced out of the Cupertino school district will decide Santa Clara isn't so bad after all.
Are you just looking at the web, or do you live here?
We're done here.