San Luis Obispo, California Housing Market Prices
San Luis Obispo Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 157% above the California median$1,675,073
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Median rent 5% below the California median$1,927
Housing Market Overview
| Metric | San Luis Obispo | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,675,073 | $650,794 | $248,835 |
| Price Trend (Annual %) | 52.5% | 8.9% | 7.5% |
| Median Gross Rent | $1,927 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 4.8% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in San Luis Obispo is about 157% higher than in California. Rent is about 5% lower than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in San Luis Obispo, up about 52.5% and 4.8% a year respectively. Home prices are changing faster.
Median rent in San Luis Obispo rose about 49.8% between 2015 and 2024, from $1,286 to $1,927. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 23.2 yearly household incomes in San Luis Obispo.
Buying the median-priced home in San Luis Obispo costs roughly 72.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in San Luis Obispo. The price-to-rent ratio in California is about 26.6.
| Metric | San Luis Obispo | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,675,073 | $650,794 | $248,835 |
| Median Household Income | $72,306 | $99,161 | $80,455 |
| Price-to-Income Ratio | 23.2 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in San Luis Obispo rose about 2778.1%, while median household income rose about 81.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | San Luis Obispo | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 34.0% | 51.7% | 58.5% |
| Rental Rate | 57.8% | 40.8% | 31.2% |
| Vacancy Rate | 8.2% | 7.5% | 10.2% |
| Median Tenure (years) | 9.0 | 15.0 | 15.0 |
| Median Year Moved In | 2017 | 2011 | 2011 |
San Luis Obispo has a homeownership rate of 34.0%, lower than the California average of 51.7%. Its housing vacancy rate is 8.2%, compared with 7.5% in California.
Housing Stock
| Metric | San Luis Obispo | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.25 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1974 | 1975 | 1978 |
| Median Number of Rooms | 4.4 | 5.0 | 5.5 |
The typical housing unit in San Luis Obispo was built around 1974. On average, 2.3 people live in a home with about 4.4 rooms, staying for about 9.0 years on average.
Frequently Asked Questions
Common questions about the housing market in San Luis Obispo, California.
What is the median home price in San Luis Obispo, California?
The median home price in San Luis Obispo, California is $1,675,073, higher than the California average of $650,794.
What is the average home price in San Luis Obispo, California?
The typical home price in San Luis Obispo, California, reported as the median sale price, is $1,675,073. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in San Luis Obispo, California?
The median gross rent in San Luis Obispo, California is $1,927 per month, lower than the California average of $2,036.
What was the median gross rent in San Luis Obispo in 2020?
In 2020, the median gross rent in San Luis Obispo, California was $1,605 per month.
What is the price-to-rent ratio in San Luis Obispo, California?
The price-to-rent ratio in San Luis Obispo, California is about 72.4, meaning it would take roughly 72.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in San Luis Obispo.
Are home prices or rent rising faster in San Luis Obispo, California?
Both home prices and rent are rising in San Luis Obispo, up about 52.5% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in San Luis Obispo, California?
34.0% of households in San Luis Obispo, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in San Luis Obispo, California?
The housing vacancy rate in San Luis Obispo, California is 8.2%, higher than the California average of 7.5%.
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