Montecito, CA 93108 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Montecito, CA—93108

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$5,120,000

8.8% YoY Growth

Household Income

$224,000

60.8% YoY Growth

Days on Market

12.0% Shorter YoY

Home Price Forecast

2.9%

Median Rent

$7,200

8.6% YoY Growth

1-Bed Rent

$4,500

0.0% YoY Growth

2-Bed Rent

$7,200

4.0% YoY Growth

3-Bed Rent

$9,000

7.4% YoY Growth

Home Price Trends — Montecito, CA

As of May '26, the median home price in Montecito, CA is $5,120,000, with a year-over-year change of 8.8%. This indicates that home prices in Montecito, CA are increasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$5,120,000	8.8%
Single Family	$5,470,000	9.0%
Condos	$2,855,000	11.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Montecito, CA

As of July '25, Rentcast reports the average rent in Montecito, CA is $7,020, with a year-over-year rent change of -8.6%. Per bedroom, the median rent as of July '25 in Montecito, CA is studios: $3,650, 1-bedrooms: $4,680, 2-bedrooms: $7,500, 3-bedrooms: $8,950, 4-bedrooms: $8,720. The most common rental property sizes in Montecito, CA are 2-bedroom and 3-bedroom, accounting for 37.3% and 23.5% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$7,200	$7,020
Studio Rent	$2,300	$3,650
1 Bed Rent	$4,500	$4,680
2 Bed Rent	$7,200	$7,500
3 Bed Rent	$9,000	$8,950
4 Bed Rent	$8,950	$8,720

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% of Rental Stock

Studio

2.7%

1 Bedroom

22.7%

2 Bedrooms

37.3%

3 Bedrooms

23.5%

4 Bedrooms

9.5%

5+ Bedrooms

4.4%

Property Listings — Montecito, CA

As of May '26, Realtor.com reports that the median days on market for a home in Montecito, CA is 64. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$6,950,000	-5.0%
Listing Count	87	-10.0%
Listings as % of Homes	0.6%	-10.0%
Days on Market	64	-12.0%

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Demographics — Montecito, CA

As of the latest ACS Survey released in 2023, Montecito, CA has a population of 11,700, which has increased by 7.0% over the past 5 years. Montecito, CA is a less popular place for families, as children make up 13.2% of the population. The area has a highly educated workforce, with 73.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	11,700	7.0%
% Under 18	13.2%	-24.6%
% Seniors	35.8%	23.4%
% WFH	26.1%	45.0%
% w/ College Degree	73.9%	4.4%

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As of the latest ACS Survey released in 2023, Montecito, CA is a predominantly white area, with 78.4% of the population identifying as white. The white population has shrunk by 8.1% in the last 5 years. The second most common race or ethnicity in Montecito, CA is hispanic, making up 10.1% of the population. Foreign-born residents account for 10.8% of the population in Montecito, CA, and this percentage has decreased by 13.6% 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	78.4%	-8.1%
% Black	0.1%	-85.7%
% Hispanic	10.1%	27.8%
% Asian	3.2%	-17.9%
% Foreign Born	10.8%	-13.6%

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Mortgage and Risk — Montecito, CA

According to HUD data as of 2023, there were 140 mortgage originations in Montecito, CA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 38.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Montecito, CA. Investor activity is low, as 4.0% 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	140
% Conventional Loans	99.0%
% Government Loans	1.0%
% Investor Loans	4.0%
% Second Loans	19.0%
% Cash Out Refinance	16.0%

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Rentals and Section 8 — Montecito, CA

As of 2024, the percent of homes in Montecito, CA under the Section 8 program is 0.8%. 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 Montecito, 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	11
Total Units Section 8	11
% Rentals under Section 8	0.8%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$470	$4,500	$4,030
2 Bedroom	-$2,660	$7,200	$4,540
3 Bedroom	-$2,990	$9,000	$6,010
4 Bedroom	-$2,250	$8,950	$6,700

Montecito, CA—93108

Key Metrics at a Glance

Home Price Trends — Montecito, CA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Montecito, CA

% of Rental Stock

Property Listings — Montecito, CA

Demographics — Montecito, CA

Race and Ethnicity

Mortgage and Risk — Montecito, CA

Mortgages

Rentals and Section 8 — Montecito, CA

Section 8 Market Size

Section 8 Opportunity

Affordability — Montecito, CA

Home Price to Income Ratio

Montecito, CA — ZIP Code Boundary Map

Nearby ZIP Codes

Summerland

Santa Barbara, CA

Santa Barbara, CA

Carpinteria, CA

Santa Barbara, CA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	19.9
Median Home Price	$5,120,000
Median Household Income	$224,000

Montecito, CA—93108

Key Metrics at a Glance

Home Price Trends — Montecito, CA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Montecito, CA

% of Rental Stock

Property Listings — Montecito, CA

Demographics — Montecito, CA

Race and Ethnicity

Mortgage and Risk — Montecito, CA

Mortgages

Rentals and Section 8 — Montecito, CA

Section 8 Market Size

Section 8 Opportunity

Affordability — Montecito, CA

Home Price to Income Ratio

Montecito, CA — ZIP Code Boundary Map

Nearby ZIP Codes

Summerland

Santa Barbara, CA

Santa Barbara, CA

Carpinteria, CA

Santa Barbara, CA

Frequently Asked Questions

What is the average home price in Montecito, CA 93108?

How have home prices in Montecito, CA 93108 changed over the past year?

What is the home price projection for Montecito, CA 93108?

What are the demographics of Montecito, CA 93108?

How long does it take homes to sell in Montecito, CA 93108?

What is the average rent price in Montecito, CA 93108?