Santa Monica, CA—90404
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 $1,055,000, with a year-over-year change of -3.0%. This indicates that home prices in Santa Monica, CA are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,055,000 | -3.0% |
| Single Family | $1,379,000 | -4.5% |
| Condos | $892,000 | -4.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $629,000 | -4.4% |
2 Bed | $1,004,000 | -4.2% |
3 Bed | $1,299,000 | -3.4% |
4 Bed | $1,702,000 | -2.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Santa Monica, CA
As of July '25, Rentcast reports the average rent in Santa Monica, CA is $3,550, with a year-over-year rent change of -5.8%. Per bedroom, the median rent as of July '25 in Santa Monica, CA is studios: $2,170, 1-bedrooms: $2,890, 2-bedrooms: $3,810, 3-bedrooms: $5,500, 4-bedrooms: $5,390. The most common rental property sizes in Santa Monica, CA are 2-bedroom and 1-bedroom, accounting for 43.6% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $3,550 |
| Studio Rent | $2,100 | $2,170 |
| 1 Bed Rent | $2,740 | $2,890 |
| 2 Bed Rent | $3,600 | $3,810 |
| 3 Bed Rent | $5,180 | $5,500 |
| 4 Bed Rent | $6,000 | $5,390 |
% 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 56. This is a increase of 48.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,120,000 | -6.0% |
Listing Count | 49 | 28.0% |
| Listings as % of Homes | 0.2% | 28.0% |
Days on Market | 56 | 48.0% |
Demographics — Santa Monica, CA
As of the latest ACS Survey released in 2023, Santa Monica, CA has a population of 22,900, which has remained stable by 0.3% over the past 5 years. Santa Monica, CA is a less popular place for families, as children make up 13.6% of the population. The area has a highly educated workforce, with 58.6% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 34.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,900 | 0.3% |
% Under 18 | 13.6% | -16.0% |
% Seniors | 19.4% | 34.7% |
% WFH | 34.2% | 327.5% |
% w/ College Degree | 58.6% | 5.6% |
As of the latest ACS Survey released in 2023, Santa Monica, CA is a predominantly white area, with 44.8% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Santa Monica, CA is hispanic, making up 27.1% of the population. Foreign-born residents account for 23.9% of the population in Santa Monica, CA, and this percentage has decreased by 23.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 44.8% | -2.6% |
% Black | 10.0% | 33.3% |
% Hispanic | 27.1% | -3.9% |
% Asian | 10.8% | -20.6% |
% Foreign Born | 23.9% | -23.6% |
Mortgage and Risk — Santa Monica, CA
According to HUD data as of 2023, there were 94 mortgage originations in Santa Monica, CA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Santa Monica, CA. Investor activity is low, as 9.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 94 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 9.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Santa Monica, CA
As of 2024, the percent of homes in Santa Monica, CA under the Section 8 program is 7.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Santa Monica, CA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 625 |
Total Units Section 8 | 593 |
% Rentals under Section 8 | 7.1% |
% Occupied Section 8 | 87.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$490 | $2,740 | $2,250 |
| 2 Bedroom | -$760 | $3,600 | $2,840 |
| 3 Bedroom | -$1,570 | $5,180 | $3,610 |
| 4 Bedroom | -$2,000 | $6,000 | $4,000 |
Affordability — Santa Monica, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 12.8 |
| Median Home Price | $1,055,000 |
| Median Household Income | $85,100 |