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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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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 88,665, 37,806 total housing units (homes and apartments), and a median house value of $1,317,484, 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 46.46% of the city's housing units. Other types of housing that are prevalent in Santa Barbara include large apartment complexes or high rise apartments ( 29.69%), duplexes, homes converted to apartments or other small apartment buildings ( 14.85%), and a few row houses and other attached homes ( 8.16%).

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 41.80% of the city's housing hails from this era. Other housing ages represented in Santa Barbara include homes built between 1970-1999 ( 31.89%) and housing constructed before 1939 ( 19.26%). There's also some housing in Santa Barbara built between 2000 and later ( 7.05%).

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 81.20%, which ranks in the top 40% nationwide. This equates to an annual average Santa Barbara house appreciation rate of 6.12%.

NeighborhoodScout's data show that during the latest twelve months, Santa Barbara's appreciation rate, at 14.43%, has been at or slightly above the national average. In the latest quarter, Santa Barbara's appreciation rate has been 5.89%, which annualizes to a rate of 25.73%.

Importantly, NeighborhoodScout’s exclusive research found that Santa Barbara's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 60% 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:
$1,317,484

Santa Barbara, CA HOME PRICES

> $1,225,000
$919,001 - $1,225,000
$613,001 - $919,000
$490,001 - $613,000
$368,001 - $490,000
$245,001 - $368,000
$122,001 - $245,000
$61,001 - $122,000
$0 - $61,000
46.2%
46.2%
23.5%
23.5%
18.7%
18.7%
3.7%
3.7%
1.5%
1.5%
2.4%
2.4%
0.9%
0.9%
1.0%
1.0%
2.1%
2.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
37,806

Santa Barbara Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
139.01% 3.95%
2
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,963 / per month

Homeownership Rate

Owners
Renters
Vacant
40.7%
40.7%
59.3%
59.3%
6.0%
6.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.1%
7.1%
31.9%
31.9%
41.8%
41.8%
19.3%
19.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
46.5%
46.5%
8.2%
8.2%
14.8%
14.8%
29.7%
29.7%
0.8%
0.8%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
6.5%
6.5%
23.4%
23.4%
34.7%
34.7%
23.8%
23.8%
9.1%
9.1%
2.5%
2.5%
0.0% 100.0%
% OF HOMES

Popular Communities Near Santa Barbara, CA

Zip Codes in Santa Barbara, CA