Santa Barbara, CA—93111
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 $1,638,000, with a year-over-year change of -1.9%. This indicates that home prices in Santa Barbara, CA are decreasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,638,000 | -1.9% |
| Single Family | $1,687,000 | -1.9% |
| Condos | $925,000 | -4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $941,000 | -4.3% |
3 Bed | $1,552,000 | -1.7% |
4 Bed | $1,754,000 | -2.0% |
| 5 Bed | $2,168,000 | -3.0% |
% of Housing Stock
Rental Trends — Santa Barbara, CA
As of July '25, Rentcast reports the average rent in Santa Barbara, CA is $5,100, with a year-over-year rent change of -11.3%. Per bedroom, the median rent as of July '25 in Santa Barbara, CA is studios: $3,600, 1-bedrooms: $2,810, 2-bedrooms: $4,340, 3-bedrooms: $5,500, 4-bedrooms: $6,400. The most common rental property sizes in Santa Barbara, CA are 2-bedroom and 1-bedroom, accounting for 31.7% and 26.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,350 | $5,100 |
| Studio Rent | $3,600 | $3,600 |
| 1 Bed Rent | $1,820 | $2,810 |
| 2 Bed Rent | $4,160 | $4,340 |
| 3 Bed Rent | $5,400 | $5,500 |
| 4 Bed Rent | $6,000 | $6,400 |
% 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 51. This is a increase of 79.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,820,000 | -11.0% |
Listing Count | 31 | 6.0% |
| Listings as % of Homes | 0.2% | 6.0% |
Days on Market | 51 | 79.0% |
Demographics — Santa Barbara, CA
As of the latest ACS Survey released in 2023, Santa Barbara, CA has a population of 18,200, which has increased by 5.6% over the past 5 years. Santa Barbara, CA is a moderately popular place for families, as children make up 20.6% of the population. The area has a highly educated workforce, with 55.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,200 | 5.6% |
% Under 18 | 20.6% | 16.4% |
% Seniors | 22.7% | 6.1% |
% WFH | 20.6% | 267.9% |
% w/ College Degree | 55.9% | 8.3% |
As of the latest ACS Survey released in 2023, Santa Barbara, CA is a predominantly white area, with 63.0% of the population identifying as white. The white population has shrunk by 9.0% in the last 5 years. The second most common race or ethnicity in Santa Barbara, CA is hispanic, making up 23.5% of the population. Foreign-born residents account for 16.7% of the population in Santa Barbara, CA, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 63.0% | -9.0% |
% Black | 1.2% | -29.4% |
% Hispanic | 23.5% | 14.6% |
% Asian | 6.8% | 4.6% |
% Foreign Born | 16.7% | 0.0% |
Mortgage and Risk — Santa Barbara, CA
According to HUD data as of 2023, there were 109 mortgage originations in Santa Barbara, CA, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 34.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Santa Barbara, CA. Investor activity is low, as 4.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 109 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
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 8.0%. 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 Barbara, CA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 154 |
Total Units Section 8 | 154 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,930 | $1,820 | $3,750 |
| 2 Bedroom | $70 | $4,160 | $4,230 |
| 3 Bedroom | $200 | $5,400 | $5,600 |
| 4 Bedroom | $240 | $6,000 | $6,240 |
Affordability — Santa Barbara, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 11 |
| Median Home Price | $1,638,000 |
| Median Household Income | $140,000 |