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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Santa Barbara, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Santa Barbara, CA Housing Market Trends

With a population of 87,533, 36,932 total housing units (homes and apartments), and a median house value of $1,448,972, Santa Barbara house prices are not only among the most expensive in California, Santa Barbara real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Santa Barbara, accounting for 46.66% of the city's housing units. Other types of housing that are prevalent in Santa Barbara include large apartment complexes or high rise apartments ( 29.56%), duplexes, homes converted to apartments or other small apartment buildings ( 14.80%), and a few row houses and other attached homes ( 8.33%).

People in Santa Barbara primarily live in small (one, two or no bedroom) single-family detached homes. Santa Barbara has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Santa Barbara's housing was primarily built during this period, from the '40s through the '60s. A full 42.15% of the city's housing hails from this era. Other housing ages represented in Santa Barbara include homes built between 1970-1999 ( 31.16%) and housing constructed before 1939 ( 19.60%). There's also some housing in Santa Barbara built between 2000 and later ( 7.10%).

Santa Barbara Home Appreciation Rates

Appreciation rates for homes in Santa Barbara have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.66%, which ranks in the top 40% nationwide. This equates to an annual average Santa Barbara house appreciation rate of 6.55%.

Appreciation rates are so strong in Santa Barbara that despite a nationwide downturn in the housing market, Santa Barbara real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Santa Barbara appreciation rates continue to be some of the highest in America, at 9.18%, which is higher than appreciation rates in 93.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Santa Barbara. Santa Barbara appreciation rates in the latest quarter were at 4.98%, which equates to an annual appreciation rate of 21.48%.

Importantly, this makes Santa Barbara one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to California, our data show that Santa Barbara's latest annual appreciation rate is higher than 90% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Santa Barbara differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Santa Barbara - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Santa Barbara real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,448,972

Santa Barbara, CA Home Prices
> $1,395,000
$1,047,001 - $1,395,000
$698,001 - $1,047,000
$558,001 - $698,000
$419,001 - $558,000
$279,001 - $419,000
$140,001 - $279,000
$70,001 - $140,000
$0 - $70,000
50.9%
50.9%
23.3%
23.3%
15.7%
15.7%
2.5%
2.5%
2.0%
2.0%
1.9%
1.9%
0.9%
0.9%
1.2%
1.2%
1.5%
1.5%
0% 100.0%
% of Homes
Very High

for California

Very High

for nation

Number of Homes And Apartments:

36,932

Santa Barbara Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,878 / per month

Homeownership Rate

Owners
Renters
Vacant
40.4%
40.4%
59.6%
59.6%
5.9%
5.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.1%
7.1%
31.2%
31.2%
42.1%
42.1%
19.6%
19.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
46.7%
46.7%
8.3%
8.3%
14.8%
14.8%
29.6%
29.6%
0.6%
0.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
7.1%
7.1%
21.7%
21.7%
34.4%
34.4%
24.9%
24.9%
9.2%
9.2%
2.7%
2.7%
0% 100.0%
% of Homes

Popular Communities Near Santa Barbara, CA

Zip Codes in Santa Barbara, CA