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Santa Barbara real estate market overview
- Average Monthly Rent: $2,660
- Home Price/Value Percentage Change: -0.50%
- Median Home Value: $1,607,903
- Best Time To Sell a Home: March
- Affordability Index: Low
- Days To Sell a House: 35
- Job Market: Weak
- Public School Ranking: 40
Location and weather
Santa Barbara is a picturesque and affluent coastal city lying along the Pacific coast at the base of the Santa Ynez Mountains. It faces the Santa Barbara Channel and is only 97 miles northwest of Los Angeles. Many buildings were restored in Spanish Colonial style after an earthquake in 1925. And the city's adobe style building is preserved by law.
Known for its perfectly mild climate, Santa Barbara has a warm season from early July through September with an average high temperature in the low 80's and low temperature in the mid 60's. From late November through March it is cooler with the daily high temperatures below 70 degrees. The evening low temperatures then are in the mid 40's.
Population, job market and cost of living
Santa Barbara's population in 2023 is 88,743 with a growth rate of 0.03%.
The job market has decreased by -6.52% over last year. Ten-year future predicted job growth is 28.2%. The largest employers are Health Care & Social Assistance, Educational Services and Accommodations & Food Services. Major companies in Santa Barbara include UC Santa Barbara, Curvature, Allergan Medical, Partners Personnel and Yardi.
The cost of living is high due to the desirable location and Santa Barbara real estate market with a high cost of housing. With such a desirable location and climate, beautiful Pacific Ocean and mountain views, steady job growth and growing businesses Santa Barbara will continue to be a sought-after place to live on the Pacific coast.
Santa Barbara real estate market details
- Hitchcock
- Riviera
- Hidden Valley
- Eastside
- Alta Mesa
The average monthly rent in Santa Barbara is $2,660 for an average apartment size of 711 sq. feet.
There has been a -0.5% decrease in median home value over the last year. As of 2023, the median home value is $1,607,903.
On average, homes in Santa Barbara sell after 35 days on the market.
The best time to sell a home for the highest valued sale is during March. For the quickest sale, homeowners should sell in August.
The affordability index in Santa Barbara is 218. This number indicates low affordability in this city.
The top ranked public schools are Cold Spring Elementary School, Montecito Union, Santa Barbara Junior High School, Cleveland Elementary School and Monroe Elementary School. This information is based on data measuring academic performance and equity.