Santa Cruz, CA—95060
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Santa Cruz, CA
As of Aug '25, the median home price in Santa Cruz, CA is $1,306,000, with a year-over-year change of -2.0%. This indicates that home prices in Santa Cruz, CA are decreasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $720,000 | -4.5% |
2 Bed | $1,014,000 | -2.7% |
3 Bed | $1,424,000 | -1.6% |
4 Bed | $1,798,000 | -1.4% |
| 5 Bed | $1,979,000 | -1.4% |
Rental Trends — Santa Cruz, CA
As of Jul '25, the average rent in Santa Cruz, CA is $4,050, with a year-over-year rent change of 5.2%. 1-bedroom units average $2,830 (10.5%); 2-bedroom units average $3,720 (3.3%); 3-bedroom units average $5,500 (5.8%); 4-bedroom units average $6,700 (-0.3%)
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,540 | $4,050 |
| Studio Rent | $1,880 | $2,090 |
| 1 Bed Rent | $2,860 | $2,830 |
| 2 Bed Rent | $3,840 | $3,720 |
| 3 Bed Rent | $5,300 | $5,500 |
| 4 Bed Rent | $6,200 | $6,700 |
Property Listings — Santa Cruz, CA
As of Aug '25 and according to Realtor.com, the median days on market for a home in Santa Cruz, CA is 40. This is an increase of 3.0% from last year. This indicates that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 41.0%. This is a large percentage of inventory, suggesting a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,420,000 | 2.0% |
Listing Count | 88 | N/A |
| Listings as % of Homes | 0.2% | N/A |
Days on Market | 40 | 3.0% |
Demographics — Santa Cruz, CA
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 46,000 | -2.8% |
% Under 18 | 14.1% | -6.6% |
| % Under 5 | N/A | N/A |
% Seniors | 16.9% | 14.2% |
% WFH | 22.1% | 220.3% |
% w/ College Degree | 55.2% | 2.8% |
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 65.3% | -4.3% |
% Black | 1.4% | -22.2% |
% Hispanic | 22.1% | 17.6% |
% Asian | 5.6% | -15.2% |
% Foreign Born | 13.2% | -7.0% |
Mortgage and Risk — Santa Cruz, CA
According to the latest data from the U.S. Department of Housing and Urban Development (HUD) as of 2023, the number of mortgages originated in Santa Cruz, CA in that year was 316. 96.0% of all primary home loans were conventional, the remainder were government-backed loans, such as FHA loans. The average loan-to-value for all loans was 38.0%. Of those, 2.0% were >90% loan to value. This is considered normal, suggesting that mortgage risk is small in Santa Cruz, CA. Investor activity in Santa Cruz, CA is low, as 3.0% of all loans are originated by investors. In 2023, 11.0% of all loans were cash-out refinances, suggesting many homeowners are actively tapping their home's equity.
Mortgages
| Metric | Zip Code Average | Metro Average | State Average |
|---|---|---|---|
Total Loan Originations | 316 | N/A | N/A |
% Conventional Loans | 96.0% | N/A | N/A |
% Government Loans | 4.0% | N/A | N/A |
% Investor Loans | 3.0% | N/A | N/A |
% Second Loans | 6.0% | N/A | N/A |
% Cash Out Refinance | 11.0% | N/A | N/A |
Rentals and Section 8 — Santa Cruz, CA
As of 2024, the percent of homes in Santa Cruz, CA under the Section 8 program is 14.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays homeowners more than the average rental market rate for various home sizes. For each bedroom size, the average difference between HUD payments and market rents is shown in the table below.
Section 8 Market Size
Total Units under HUD | 1,369 |
Total Units Section 8 | 1,349 |
% Rentals under Section 8 | 14.3% |
% Occupied Section 8 | 92.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $940 | $2,860 | $3,800 |
| 2 Bedroom | $1,140 | $3,840 | $4,980 |
| 3 Bedroom | $900 | $5,300 | $6,200 |
| 4 Bedroom | $410 | $6,200 | $6,610 |
Affordability — Santa Cruz, CA
Home Price to Income Ratio
| Metric | Zip Code Average | Metro Average | State Average |
|---|---|---|---|
| Home Price to Income Ratio | 12.1 | N/A | N/A |
| Median Home Price | $1,306,000 | N/A | N/A |
| Median Household Income | $106,000 | N/A | N/A |