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These days, finding an affordable place to live in the Santa Monica area can be challenging. Home prices in Santa Monica are now at a median cost of $1,530,796, higher than the California average of $812,006.
The average cost of rent is $2,468/mo in Santa Monica, primarily driven by the current value of real estate in the Santa Monica area. In Santa Monica, 72.24% of households rent, and 45.07% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Santa Monica is $10,754 per month. Households that rent pay about 22.95% of their income on rent here. Santa Monica’s most expensive areas are in the southeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Venice, CA: higher priced homes
- Pacific Palisades, CA: higher priced homes
- Marina Del Rey, CA: less expensive homes
- Culver City, CA: less expensive homes
- Playa Del Rey, CA: less expensive homes
- Beverly Hills, CA: higher priced homes
- Ladera Heights, CA: equally priced homes
- El Segundo, CA: equally priced homes
- West Hollywood, CA: less expensive homes
- View Park-Windsor Hills, CA: less expensive homes
Cities with Similar Populations
- Tracy, CA: less expensive homes
- Bryan, TX: less expensive homes
- Fishers, IN: less expensive homes
- Fort Smith, AR: less expensive homes
- Greenwood, IN: less expensive homes
- San Tan Valley, AZ: less expensive homes
- Holland, MI: less expensive homes
- Jackson, MI: less expensive homes
- Jacksonville, NC: less expensive homes
- Johnson City, TN: less expensive homes
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