Santa Monica, CA—90403
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Santa Monica, CA
As of Oct '25, the median home price in Santa Monica, CA is $1,452,000, with a year-over-year change of -4.4%. This indicates that home prices in Santa Monica, CA are decreasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,452,000 | -4.4% |
| Single Family | $2,366,000 | -2.9% |
| Condos | $1,181,000 | -5.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $754,000 | -6.0% |
2 Bed | $1,311,000 | -5.2% |
3 Bed | $1,929,000 | -4.6% |
4 Bed | $3,527,000 | -1.3% |
| 5 Bed | $4,777,000 | 1.3% |
% of Housing Stock
Rental Trends — Santa Monica, CA
As of July '25, Rentcast reports the average rent in Santa Monica, CA is $4,180, with a year-over-year rent change of -6.9%. Per bedroom, the median rent as of July '25 in Santa Monica, CA is studios: $2,470, 1-bedrooms: $3,240, 2-bedrooms: $5,050, 3-bedrooms: $5,950. The most common rental property sizes in Santa Monica, CA are 1-bedroom and 2-bedroom, accounting for 43.6% and 34.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,850 | $4,180 |
| Studio Rent | $2,200 | $2,470 |
| 1 Bed Rent | $3,000 | $3,240 |
| 2 Bed Rent | $5,000 | $5,050 |
| 3 Bed Rent | $5,400 | $5,950 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Santa Monica, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Santa Monica, CA is 55. This is a increase of 42.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,420,000 | -20.0% |
Listing Count | 87 | 26.0% |
| Listings as % of Homes | 0.2% | 26.0% |
Days on Market | 55 | 42.0% |
Demographics — Santa Monica, CA
As of the latest ACS Survey released in 2023, Santa Monica, CA has a population of 25,100, which has increased by 3.0% over the past 5 years. Santa Monica, CA is a less popular place for families, as children make up 13.3% of the population. The area has a highly educated workforce, with 71.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 34.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,100 | 3.0% |
% Under 18 | 13.3% | -2.2% |
% Seniors | 18.7% | 8.1% |
% WFH | 34.8% | 187.6% |
% w/ College Degree | 71.5% | -5.5% |
As of the latest ACS Survey released in 2023, Santa Monica, CA is a predominantly white area, with 67.0% of the population identifying as white. The white population has shrunk by 9.2% in the last 5 years. The second most common race or ethnicity in Santa Monica, CA is hispanic, making up 12.0% of the population. Foreign-born residents account for 24.4% of the population in Santa Monica, CA, and this percentage has increased by 11.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 67.0% | -9.2% |
% Black | 2.5% | 38.9% |
% Hispanic | 12.0% | 34.8% |
% Asian | 10.8% | 11.3% |
% Foreign Born | 24.4% | 11.9% |
Mortgage and Risk — Santa Monica, CA
According to HUD data as of 2023, there were 130 mortgage originations in Santa Monica, CA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Santa Monica, CA. Investor activity is low, as 3.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 130 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 3.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Santa Monica, CA
Santa Monica, CA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 591 |
Total Units Section 8 | 457 |
% Rentals under Section 8 | 4.9% |
% Occupied Section 8 | 91.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $3,000 | $2,840 |
| 2 Bedroom | -$1,420 | $5,000 | $3,580 |
| 3 Bedroom | -$850 | $5,400 | $4,550 |
| 4 Bedroom | N/A | N/A | $5,040 |
Affordability — Santa Monica, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 12.7 |
| Median Home Price | $1,452,000 |
| Median Household Income | $122,000 |