Santa Monica, California Housing Market Prices
Santa Monica 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 186% above the California median$1,864,231
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Median rent 18% above the California median$2,401
Housing Market Overview
| Metric | Santa Monica | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,864,231 | $650,794 | $248,835 |
| Price Trend (Annual %) | 8.4% | 8.9% | 7.5% |
| Median Gross Rent | $2,401 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Santa Monica is about 186% higher than in California. Rent is about 18% higher 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 Santa Monica, up about 8.4% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Santa Monica rose about 50.7% between 2015 and 2024, from $1,593 to $2,401. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 16.1 yearly household incomes in Santa Monica.
Buying the median-priced home in Santa Monica costs roughly 64.7 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 Monica. The price-to-rent ratio in California is about 26.6.
| Metric | Santa Monica | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,864,231 | $650,794 | $248,835 |
| Median Household Income | $116,065 | $99,161 | $80,455 |
| Price-to-Income Ratio | 16.1 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Santa Monica rose about 176.0%, while median household income rose about 63.6% 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 | Santa Monica | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 24.8% | 51.7% | 58.5% |
| Rental Rate | 64.0% | 40.8% | 31.2% |
| Vacancy Rate | 11.2% | 7.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Santa Monica has a homeownership rate of 24.8%, lower than the California average of 51.7%. Its housing vacancy rate is 11.2%, compared with 7.5% in California.
Housing Stock
| Metric | Santa Monica | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.88 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1968 | 1975 | 1978 |
| Median Number of Rooms | 3.7 | 5.0 | 5.5 |
The typical housing unit in Santa Monica was built around 1968. On average, 1.9 people live in a home with about 3.7 rooms, staying for about 13.0 years on average.
Santa Monica, CA Housing Compared With Nearby Cities
How Santa Monica, CA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Santa Monica, CA | 91,091 | $1,864,231 #1/3 | $2,401 #3/3 | 27.9% #3/3 |
| Culver City, CA | 39,823 | $1,404,140 | $2,736 | 54.5% |
| Beverly Hills, CA | 31,624 | $1,791,666 | $2,829 | 41.0% |
Frequently Asked Questions
Common questions about the housing market in Santa Monica, California.
What is the median home price in Santa Monica, California?
The median home price in Santa Monica, California is $1,864,231, higher than the California average of $650,794.
What is the average home price in Santa Monica, California?
The typical home price in Santa Monica, California, reported as the median sale price, is $1,864,231. 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 Monica, California?
The median gross rent in Santa Monica, California is $2,401 per month, higher than the California average of $2,036.
What was the median gross rent in Santa Monica in 2020?
In 2020, the median gross rent in Santa Monica, California was $1,899 per month.
What is the price-to-rent ratio in Santa Monica, California?
The price-to-rent ratio in Santa Monica, California is about 64.7, meaning it would take roughly 64.7 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 Monica.
Are home prices or rent rising faster in Santa Monica, California?
Both home prices and rent are rising in Santa Monica, up about 8.4% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Santa Monica, California?
24.8% of households in Santa Monica, California own their home, lower than the California average of 51.7%.
What is the vacancy rate in Santa Monica, California?
The housing vacancy rate in Santa Monica, California is 11.2%, higher than the California average of 7.5%.
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