Santa Barbara, CA—93103
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Santa Barbara, CA
As of Oct '25, the median home price in Santa Barbara, CA is $1,663,000, with a year-over-year change of -2.6%. This indicates that home prices in Santa Barbara, CA are decreasing. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,663,000 | -2.6% |
| Single Family | $1,881,000 | -2.4% |
| Condos | $1,007,000 | -2.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $914,000 | -2.6% |
2 Bed | $1,297,000 | -2.9% |
3 Bed | $1,907,000 | -1.8% |
4 Bed | $2,900,000 | 0.1% |
| 5 Bed | $3,516,000 | 0.1% |
% of Housing Stock
Rental Trends — Santa Barbara, CA
As of July '25, Rentcast reports the average rent in Santa Barbara, CA is $5,270, with a year-over-year rent change of 1.0%. Per bedroom, the median rent as of July '25 in Santa Barbara, CA is studios: $2,620, 1-bedrooms: $3,270, 2-bedrooms: $5,490, 3-bedrooms: $7,000, 4-bedrooms: $9,950. The most common rental property sizes in Santa Barbara, CA are 2-bedroom and 1-bedroom, accounting for 42.3% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,000 | $5,270 |
| Studio Rent | $2,100 | $2,620 |
| 1 Bed Rent | $2,780 | $3,270 |
| 2 Bed Rent | $5,000 | $5,490 |
| 3 Bed Rent | $6,500 | $7,000 |
| 4 Bed Rent | $9,950 | $9,950 |
% of Rental Stock
Property Listings — Santa Barbara, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Santa Barbara, CA is 60. This is a increase of 46.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $2,350,000 | 8.0% |
Listing Count | 46 | 13.0% |
| Listings as % of Homes | 0.2% | 13.0% |
Days on Market | 60 | 46.0% |
Demographics — Santa Barbara, CA
As of the latest ACS Survey released in 2023, Santa Barbara, CA has a population of 19,800, which has decreased by -2.7% over the past 5 years. Santa Barbara, CA is a moderately popular place for families, as children make up 17.6% of the population. The area has a highly educated workforce, with 46.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,800 | -2.7% |
% Under 18 | 17.6% | 2.9% |
% Seniors | 18.6% | 9.4% |
% WFH | 12.6% | 43.2% |
% w/ College Degree | 46.0% | 2.4% |
As of the latest ACS Survey released in 2023, Santa Barbara, CA is a predominantly hispanic area, with 48.3% of the population identifying as hispanic. The hispanic population has grown by 4.8% in the last 5 years. The second most common race or ethnicity in Santa Barbara, CA is white, making up 44.0% of the population. Foreign-born residents account for 25.7% of the population in Santa Barbara, CA, and this percentage has increased by 10.8% 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 | 44.0% | -7.4% |
% Black | 1.3% | -13.3% |
% Hispanic | 48.3% | 4.8% |
% Asian | 4.0% | 37.9% |
% Foreign Born | 25.7% | 10.8% |
Mortgage and Risk — Santa Barbara, CA
According to HUD data as of 2023, there were 89 mortgage originations in Santa Barbara, CA, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 45.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Santa Barbara, CA. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 89 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 1.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Santa Barbara, CA
As of 2024, the percent of homes in Santa Barbara, CA under the Section 8 program is 9.1%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Santa Barbara, CA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 286 |
Total Units Section 8 | 286 |
% Rentals under Section 8 | 9.1% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $340 | $2,780 | $3,120 |
| 2 Bedroom | -$1,480 | $5,000 | $3,520 |
| 3 Bedroom | -$1,840 | $6,500 | $4,660 |
| 4 Bedroom | -$4,760 | $9,950 | $5,190 |
Affordability — Santa Barbara, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 13.1 |
| Median Home Price | $1,663,000 |
| Median Household Income | $118,000 |