Montecito, CA—93108
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Montecito, CA
As of Oct '25, the median home price in Montecito, CA is $4,779,000, with a year-over-year change of 0.8%. This indicates that home prices in Montecito, CA are flat. According to Zillow, the 1-year price projection is 4.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $4,779,000 | 0.8% |
| Single Family | $5,092,000 | 1.6% |
| Condos | $2,754,000 | 5.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $3,150,000 | 3.7% |
3 Bed | $4,044,000 | 0.8% |
4 Bed | $5,772,000 | 1.9% |
| 5 Bed | $8,975,000 | 3.0% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Montecito, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Montecito, CA is 96. This is a increase of 3.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $6,240,000 | -14.0% |
Listing Count | 104 | 5.0% |
| Listings as % of Homes | 0.6% | 5.0% |
Days on Market | 96 | 3.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Montecito, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 19.7 |
| Median Home Price | $4,779,000 |
| Median Household Income | $224,000 |