San Luis Obispo, CA—93401
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 $1,071,000, with a year-over-year change of 2.9%. This indicates that home prices in San Luis Obispo, CA are increasing. 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 | $1,071,000 | 2.9% |
| Single Family | $1,168,000 | 2.6% |
| Condos | $689,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $565,000 | 7.6% |
2 Bed | $748,000 | 2.9% |
3 Bed | $1,105,000 | 3.3% |
4 Bed | $1,440,000 | 3.1% |
| 5 Bed | $1,807,000 | 1.6% |
% of Housing Stock
Rental Trends — San Luis Obispo, CA
As of July '25, Rentcast reports the average rent in San Luis Obispo, CA is $2,960, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in San Luis Obispo, CA is studios: $2,090, 1-bedrooms: $2,100, 2-bedrooms: $2,870, 3-bedrooms: $3,970, 4-bedrooms: $5,190. The most common rental property sizes in San Luis Obispo, CA are 2-bedroom and 1-bedroom, accounting for 39.3% and 24.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,680 | $2,960 |
| Studio Rent | $2,050 | $2,090 |
| 1 Bed Rent | $2,000 | $2,100 |
| 2 Bed Rent | $2,800 | $2,870 |
| 3 Bed Rent | $3,800 | $3,970 |
| 4 Bed Rent | $4,950 | $5,190 |
% 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 61. 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,160,000 | -20.0% |
Listing Count | 97 | 33.0% |
| Listings as % of Homes | 0.2% | 33.0% |
Days on Market | 61 | 23.0% |
Demographics — San Luis Obispo, CA
As of the latest ACS Survey released in 2023, San Luis Obispo, CA has a population of 30,000, which has increased by 5.5% over the past 5 years. San Luis Obispo, CA is a less popular place for families, as children make up 14.7% of the population. The area has a highly educated workforce, with 56.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,000 | 5.5% |
% Under 18 | 14.7% | -13.0% |
% Seniors | 17.6% | 8.6% |
% WFH | 19.2% | 156.0% |
% w/ College Degree | 56.8% | 12.0% |
As of the latest ACS Survey released in 2023, San Luis Obispo, CA is a predominantly white area, with 71.1% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in San Luis Obispo, CA is hispanic, making up 17.9% of the population. Foreign-born residents account for 8.9% of the population in San Luis Obispo, CA, and this percentage has decreased by 8.2% 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 | 71.1% | -1.8% |
% Black | 1.6% | -5.9% |
% Hispanic | 17.9% | -5.8% |
% Asian | 4.3% | -4.4% |
% Foreign Born | 8.9% | -8.2% |
Mortgage and Risk — San Luis Obispo, CA
According to HUD data as of 2023, there were 368 mortgage originations in San Luis Obispo, CA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in San Luis Obispo, CA. Investor activity is low, as 4.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 368 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 4.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 12.0% |
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 11.0%. 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. 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 | 764 |
Total Units Section 8 | 733 |
% Rentals under Section 8 | 11.0% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $2,000 | $2,020 |
| 2 Bedroom | -$150 | $2,800 | $2,650 |
| 3 Bedroom | -$260 | $3,800 | $3,540 |
| 4 Bedroom | -$940 | $4,950 | $4,010 |
Affordability — San Luis Obispo, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 10 |
| Median Home Price | $1,071,000 |
| Median Household Income | $95,400 |