Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Santa Barbara County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $595,273 | $642,203 | $242,182 |
| Price Trend (Annual %) | 0.4% | 10.0% | 8.2% |
| Median Gross Rent | $2,050 | $1,955 | $1,342 |
| Rent Trend (Annual %) | 5.4% | 6.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Santa Barbara County is about 7% lower than in California. Rent is about 5% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Santa Barbara County, up about 0.4% and 5.4% a year respectively. Rent is changing faster.
Median rent in Santa Barbara County rose about 49.8% between 2015 and 2023, from $1,368 to $2,050. Over the same span, rent in California rose about 55.7%.
Affordability
On average, housing unit costs 6.2 yearly household incomes in Santa Barbara County.
Buying the median-priced home in Santa Barbara County costs roughly 24.2 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 Santa Barbara County. The price-to-rent ratio in California is about 27.4.
| Metric | Santa Barbara County | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $595,273 | $642,203 | $242,182 |
| Median Household Income | $96,215 | $96,718 | $78,145 |
| Price-to-Income Ratio | 6.2 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Santa Barbara County rose about 26.1%, while median household income rose about 62.1% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Santa Barbara County | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.3% | 51.6% | 58.2% |
| Rental Rate | 43.9% | 40.9% | 31.3% |
| Vacancy Rate | 6.8% | 7.6% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Santa Barbara County has a homeownership rate of 49.3%, lower than the California average of 51.6%. Its housing vacancy rate is 6.8%, compared with 7.6% in California.
Housing Stock
| Metric | Santa Barbara County | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.83 people | 2.85 people | 2.54 people |
| Median Structure Built Year | 1974 | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.0 | 5.5 |
The typical housing unit in Santa Barbara County was built around 1974. On average, 2.8 people live in a home with about 5.0 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Santa Barbara County, California.
What is the median home price in Santa Barbara County, California?
The median home price in Santa Barbara County, California is $595,273, lower than the California average of $642,203.
What is the average home price in Santa Barbara County, California?
The typical home price in %s, reported as the median sale price, is %s. 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 Santa Barbara County, California?
The median gross rent in Santa Barbara County, California is $2,050 per month, higher than the California average of $1,955.
What was the median gross rent in Santa Barbara County in 2020?
In 2020, the median gross rent in Santa Barbara County, California was $1,697 per month.
What is the price-to-rent ratio in Santa Barbara County, California?
The price-to-rent ratio in Santa Barbara County, California is about 24.2, meaning it would take roughly 24.2 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 Santa Barbara County.
Are home prices or rent rising faster in Santa Barbara County, California?
Both home prices and rent are rising in Santa Barbara County, up about 0.4% and 5.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Santa Barbara County, California?
49.3% of households in Santa Barbara County, California own their home, lower than the California average of 51.6%.
What is the vacancy rate in Santa Barbara County, California?
The housing vacancy rate in Santa Barbara County, California is 6.8%, lower than the California average of 7.6%.