The housing market in Santa Monica, CA is an attractive option for many home buyers. The median value of a house in Santa Monica is $1,656,900 which is considerably higher than the median value of a house across the United States at $338,100. What also makes Santa Monica an attractive option is the 1 year appreciation rate which has been 8.61%, much higher than the national average of 8.27%. This indicates that investing in property in Santa Monica could be more profitable than the US as a whole.
The median home cost in Santa Monica is $1,656,900. Home appreciation the last 10 years has been 129.2%. Home Appreciation in Santa Monica is up 14.9%.
Average Age of Homes
- The median age of Santa Monica real estate is 51 years old
The Rental Market in Santa Monica
- Renters make up 67.3% of the Santa Monica population
- 3.6% of houses and apartments in Santa Monica, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.