Salinas, CA—93906
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Salinas, CA
As of Oct '25, the median home price in Salinas, CA is $695,000, with a year-over-year change of -1.1%. This indicates that home prices in Salinas, CA are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $695,000 | -1.2% |
| Single Family | $704,000 | -1.3% |
| Condos | $374,000 | -2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $305,000 | -5.0% |
2 Bed | $555,000 | -0.2% |
3 Bed | $685,000 | -1.3% |
4 Bed | $780,000 | -0.3% |
| 5 Bed | $897,000 | -0.9% |
% of Housing Stock
Rental Trends — Salinas, CA
As of July '25, Rentcast reports the average rent in Salinas, CA is $2,810, with a year-over-year rent change of -2.4%. Per bedroom, the median rent as of July '25 in Salinas, CA is studios: $1,760, 1-bedrooms: $1,980, 2-bedrooms: $2,560, 3-bedrooms: $3,450, 4-bedrooms: $4,220. The most common rental property sizes in Salinas, CA are 2-bedroom and 3-bedroom, accounting for 42.8% and 28.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,560 | $2,810 |
| Studio Rent | $1,780 | $1,760 |
| 1 Bed Rent | $1,950 | $1,980 |
| 2 Bed Rent | $2,500 | $2,560 |
| 3 Bed Rent | $3,500 | $3,450 |
| 4 Bed Rent | $4,100 | $4,220 |
% of Rental Stock
Property Listings — Salinas, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Salinas, CA is 39. This is a increase of 23.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $716,000 | 0.0% |
Listing Count | 51 | 13.0% |
| Listings as % of Homes | 0.2% | 13.0% |
Days on Market | 39 | 23.0% |
Demographics — Salinas, CA
As of the latest ACS Survey released in 2023, Salinas, CA has a population of 64,600, which has remained stable by -1.0% over the past 5 years. Salinas, CA is a popular place for families, as children make up 28.1% of the population. The area has a poorly educated workforce, with 17.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 64,600 | -1.0% |
% Under 18 | 28.1% | -2.4% |
% Seniors | 10.9% | 17.2% |
% WFH | 5.1% | 121.7% |
% w/ College Degree | 17.2% | 25.5% |
As of the latest ACS Survey released in 2023, Salinas, CA is a predominantly hispanic area, with 75.9% of the population identifying as hispanic. The hispanic population has grown by 1.9% in the last 5 years. The second most common race or ethnicity in Salinas, CA is white, making up 13.2% of the population. Foreign-born residents account for 33.1% of the population in Salinas, CA, and this percentage has decreased by 2.1% 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 | 13.2% | -5.7% |
% Black | 1.8% | 0.0% |
% Hispanic | 75.9% | 1.9% |
% Asian | 7.3% | -9.9% |
% Foreign Born | 33.1% | -2.1% |
Mortgage and Risk — Salinas, CA
According to HUD data as of 2023, there were 328 mortgage originations in Salinas, CA, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Salinas, CA. Investor activity is low, as 3.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 328 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Salinas, CA
As of 2024, the percent of homes in Salinas, CA under the Section 8 program is 14.2%. 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. In Salinas, 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 | 1,217 |
Total Units Section 8 | 1,217 |
% Rentals under Section 8 | 14.2% |
% Occupied Section 8 | 73.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $610 | $1,950 | $2,560 |
| 2 Bedroom | $580 | $2,500 | $3,080 |
| 3 Bedroom | $660 | $3,500 | $4,160 |
| 4 Bedroom | $430 | $4,100 | $4,530 |
Affordability — Salinas, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $695,000 |
| Median Household Income | $96,000 |