Santa Barbara, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Santa Barbara, CA Real Estate Data

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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Santa Barbara Housing Market Information

With 92,101 people, 36,114 houses or apartments, and a median cost of homes of $1,142,553, 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 47.86% of the city's housing units. Other types of housing that are prevalent in Santa Barbara include large apartment complexes or high rise apartments ( 29.65%), duplexes, homes converted to apartments or other small apartment buildings ( 14.04%), and a few row houses and other attached homes ( 7.62%).

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 41.52% of the city's housing hails from this era. Other housing ages represented in Santa Barbara include homes built between 1970-1999 ( 32.21%) and housing constructed before 1939 ( 19.63%). There's also some housing in Santa Barbara built between 2000 and later ( 6.65%).

Santa Barbara Home Appreciation Rates

In the last 10 years, Santa Barbara has experienced some of the highest home appreciation rates of any community in the nation. Santa Barbara real estate appreciated 31.36% over the last ten years, which is an average annual home appreciation rate of 2.77%, putting Santa Barbara in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Santa Barbara definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Santa Barbara's appreciation rate, at 4.20%, has been at or slightly above the national average. In the latest quarter, Santa Barbara's appreciation rate has been 2.32%, which annualizes to a rate of 9.59%.

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 lower than 50% 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:
$1,142,553

Santa Barbara, CA HOME PRICES

Value Range
> $1,189,000 43.3
$891,001 - $1,189,000 25.4
$594,001 - $891,000 19.0
$476,001 - $594,000 3.8
$357,001 - $476,000 2.2
$238,001 - $357,000 2.5
$119,001 - $238,000 1.2
$59,001 - $119,000 0.3
$0 - $59,000 2.2

Very High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
0.840875912408759 9.56749672346003

Number Of Homes And Apartments:
36,114

Santa Barbara Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
108.80% 3.90%
5
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,707 / per month

Homeownership Rate

Homeownership
Owners 40.08
Renters 59.92
Vacant 7.43

Housing Market Details

 

Age of Homes

AGE OF Santa Barbara HOMES
2000 or Newer 6.6
1970 - 1999 32.2
1940 - 1969 41.5
1939 or Older 19.6

Types of Homes

TYPE OF Santa Barbara HOMES
Single-Family 47.9
Townhomes 7.6
Small Apt. Buildings 14.0
Apt. Complexes 29.7
Mobile Homes 0.7
Other 0.1

Home Size

SIZE OF Santa Barbara HOMES
No Bedroom 5.41
1 Bedroom 25.22
2 Bedrooms 31.61
3 Bedrooms 25.25
4 Bedrooms 9.67
5 or more bedrooms 2.83