Santa Cruz, CA—95062
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Santa Cruz, CA
As of Oct '25, the median home price in Santa Cruz, CA is $1,287,000, with a year-over-year change of -3.8%. This indicates that home prices in Santa Cruz, CA are decreasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,287,000 | -3.8% |
| Single Family | $1,321,000 | -3.2% |
| Condos | $720,000 | -4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $829,000 | -3.7% |
2 Bed | $1,111,000 | -3.8% |
3 Bed | $1,384,000 | -3.0% |
4 Bed | $1,663,000 | -2.6% |
| 5 Bed | $1,918,000 | -2.9% |
% of Housing Stock
Rental Trends — Santa Cruz, CA
As of July '25, Rentcast reports the average rent in Santa Cruz, CA is $3,770, with a year-over-year rent change of 1.6%. Per bedroom, the median rent as of July '25 in Santa Cruz, CA is studios: $2,500, 1-bedrooms: $2,720, 2-bedrooms: $3,540, 3-bedrooms: $5,170, 4-bedrooms: $6,170. The most common rental property sizes in Santa Cruz, CA are 2-bedroom and 1-bedroom, accounting for 42.1% and 20.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,480 | $3,770 |
| Studio Rent | $2,500 | $2,500 |
| 1 Bed Rent | $2,800 | $2,720 |
| 2 Bed Rent | $3,480 | $3,540 |
| 3 Bed Rent | $4,820 | $5,170 |
| 4 Bed Rent | $4,990 | $6,170 |
% of Rental Stock
Property Listings — Santa Cruz, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Santa Cruz, CA is 49. This is a increase of 21.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,470,000 | 0.0% |
Listing Count | 55 | -5.0% |
| Listings as % of Homes | 0.2% | -5.0% |
Days on Market | 49 | 21.0% |
Demographics — Santa Cruz, CA
As of the latest ACS Survey released in 2023, Santa Cruz, CA has a population of 36,000, which has decreased by -5.2% over the past 5 years. Santa Cruz, CA is a less popular place for families, as children make up 14.2% of the population. The area has a highly educated workforce, with 50.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,000 | -5.2% |
% Under 18 | 14.2% | -14.5% |
% Seniors | 19.8% | 27.7% |
% WFH | 16.5% | 135.7% |
% w/ College Degree | 50.7% | 28.0% |
As of the latest ACS Survey released in 2023, Santa Cruz, CA is a predominantly white area, with 67.9% of the population identifying as white. The white population has grown by 0.7% in the last 5 years. The second most common race or ethnicity in Santa Cruz, CA is hispanic, making up 20.2% of the population. Foreign-born residents account for 12.2% of the population in Santa Cruz, CA, and this percentage has decreased by 10.9% 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 | 67.9% | 0.7% |
% Black | 1.7% | 240.0% |
% Hispanic | 20.2% | -20.5% |
% Asian | 4.2% | 35.5% |
% Foreign Born | 12.2% | -10.9% |
Mortgage and Risk — Santa Cruz, CA
According to HUD data as of 2023, there were 246 mortgage originations in Santa Cruz, CA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 42.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in Santa Cruz, CA. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 246 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Santa Cruz, CA
As of 2024, the percent of homes in Santa Cruz, CA under the Section 8 program is 13.4%. 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 Cruz, 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 | 1,294 |
Total Units Section 8 | 1,214 |
% Rentals under Section 8 | 13.4% |
% Occupied Section 8 | 92.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $820 | $2,800 | $3,620 |
| 2 Bedroom | $1,270 | $3,480 | $4,750 |
| 3 Bedroom | $1,090 | $4,820 | $5,910 |
| 4 Bedroom | $1,310 | $4,990 | $6,300 |
Affordability — Santa Cruz, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 12 |
| Median Home Price | $1,287,000 |
| Median Household Income | $108,000 |