Santa Barbara, California Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Santa Barbara, California rental market.
Santa Barbara, California
Average Apartment Rent
$2,899
Y-o-Y Change in Average
Apartment Rent
2.2%
As of November 2024
Compared to a year ago, Santa Barbara, California apartments have recorded a 2.2% rent increase.
Santa Barbara, California Average apartment rent trend
Santa Barbara, California Average Apartment Rent
Santa Barbara, California Apartment rent ranges
At 81.55%, apartments priced Over $2,000 represent the bulk of Santa Barbara, California rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 0.13%.
Santa Barbara, California Housing tenure**
Renters take up 59% of Santa Barbara, California real estate, occupying a total of 21,414 units, while homeowners live in 14,819 properties.
Median number of rooms of renter-occupied housing units**
3.7
Renter median household income**
$73,992
Average household size of renter-occupied housing units**
2.38
Rental vacancy rate**
2%
Santa Barbara, California Renter-occupied housing units by no. of bedrooms**
There are 8,244 rentals in Santa Barbara, California with 2 beds making up the highest share of the market, at 38%. Units with 4 beds, on the other hand, hold the lowest percentage (4%), amounting to 753 units. Overall, the median number of rooms in Santa Barbara, California homes for rent is 3.7.
Santa Barbara, California Renter-occupied units by age of householder**
Most condos for rent in Santa Barbara, California are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 45 - 54 years age group (16%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 4%.
Santa Barbara, California Renter-occupied housing units by family type**
Santa Barbara, California Renter-occupied housing units by the presence of own children**
A total of 9,112 apartments for rent in Santa Barbara, California, or 43% of all rentals are family households. Additionally, 24% of rental homes include children under the age of 18 – that’s 5,184 units. All in all, the median size of a renter-occupied household in Santa Barbara, California is 2.38.
Santa Barbara, California Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 45% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Santa Barbara, California.
Santa Barbara, California Renter-occupied units by year structure built**
The highest share of Santa Barbara, California apartment rentals, namely 18% or 3,863 units, were Built 1970 - 1979, followed by those Built 1939 or earlier (18%, 3,846 units), and the ones Built 1960 - 1969 (15%, 3,255 units).
Santa Barbara, California Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Santa Barbara, California renters (42%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Santa Barbara, California condos for rent is 2016.
Santa Barbara, California Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Santa Barbara, California renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 12% have No vehicle available.
Santa Barbara, California Means of transportation to work of householders living in renter-occupied housing units**
Santa Barbara, California Geographical mobility in the past year for householders living in renter-occupied housing units**
Santa Barbara, California Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Santa Barbara, California apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
