San Luis Obispo, CA—93405
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in San Luis Obispo, CA
Home Price Trends — San Luis Obispo, CA
As of Oct '25, the median home price in San Luis Obispo, CA is $1,053,000, with a year-over-year change of 3.6%. This indicates that home prices in San Luis Obispo, CA are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,053,000 | 3.7% |
| Single Family | $1,103,000 | 3.6% |
| Condos | $658,000 | 4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $774,000 | 4.5% |
3 Bed | $1,043,000 | 4.7% |
4 Bed | $1,243,000 | 4.0% |
| 5 Bed | $1,469,000 | 3.1% |
% of Housing Stock
Rental Trends — San Luis Obispo, CA
As of July '25, Rentcast reports the average rent in San Luis Obispo, CA is $3,730, with a year-over-year rent change of 9.1%. Per bedroom, the median rent as of July '25 in San Luis Obispo, CA is studios: $1,740, 1-bedrooms: $1,920, 2-bedrooms: $3,090, 3-bedrooms: $4,830, 4-bedrooms: $6,250. The most common rental property sizes in San Luis Obispo, CA are 2-bedroom and 3-bedroom, accounting for 36.7% and 21.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,250 | $3,730 |
| Studio Rent | $1,650 | $1,740 |
| 1 Bed Rent | $2,000 | $1,920 |
| 2 Bed Rent | $3,000 | $3,090 |
| 3 Bed Rent | $4,200 | $4,830 |
| 4 Bed Rent | $5,600 | $6,250 |
% of Rental Stock
Property Listings — San Luis Obispo, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in San Luis Obispo, CA is 68. This is a increase of 24.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,370,000 | 7.0% |
Listing Count | 36 | 13.0% |
| Listings as % of Homes | 0.4% | 13.0% |
Days on Market | 68 | 24.0% |
Demographics — San Luis Obispo, CA
As of the latest ACS Survey released in 2023, San Luis Obispo, CA has a population of 23,900, which has decreased by -34.7% over the past 5 years. San Luis Obispo, CA is a less popular place for families, as children make up 7.0% of the population. The area has a highly educated workforce, with 52.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,900 | -34.7% |
% Under 18 | 7.0% | 7.7% |
% Seniors | 11.1% | 48.0% |
% WFH | 12.8% | 137.0% |
% w/ College Degree | 52.0% | 39.4% |
As of the latest ACS Survey released in 2023, San Luis Obispo, CA is a predominantly white area, with 72.3% of the population identifying as white. The white population has grown by 13.9% in the last 5 years. The second most common race or ethnicity in San Luis Obispo, CA is hispanic, making up 14.8% of the population. Foreign-born residents account for 6.3% of the population in San Luis Obispo, CA, and this percentage has decreased by 12.5% 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 | 72.3% | 13.9% |
% Black | 1.0% | -84.6% |
% Hispanic | 14.8% | -10.3% |
% Asian | 6.3% | -33.7% |
% Foreign Born | 6.3% | -12.5% |
Mortgage and Risk — San Luis Obispo, CA
According to HUD data as of 2023, there were 255 mortgage originations in San Luis Obispo, CA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in San Luis Obispo, CA. Investor activity is low, as 14.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 255 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 14.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — San Luis Obispo, CA
As of 2024, the percent of homes in San Luis Obispo, CA under the Section 8 program is 3.2%. 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 San Luis Obispo, 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 | 188 |
Total Units Section 8 | 188 |
% Rentals under Section 8 | 3.2% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $2,000 | $2,030 |
| 2 Bedroom | -$340 | $3,000 | $2,660 |
| 3 Bedroom | -$650 | $4,200 | $3,550 |
| 4 Bedroom | -$1,580 | $5,600 | $4,020 |
Affordability — San Luis Obispo, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 17.8 |
| Median Home Price | $1,053,000 |
| Median Household Income | $52,500 |