Location: Santa Maria-Santa Barbara, CA | Metro: Santa Maria-Santa Barbara, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,480 |
| 1 Bedroom | $2,710 |
| 2 Bedrooms | $3,110 |
| 3 Bedrooms | $4,000 |
| 4 Bedrooms | $4,560 |
| 5 Bedrooms | $5,290 |
| 6 Bedrooms | $5,925 |
| 7 Bedrooms | $6,399 |
| 8 Bedrooms | $6,719 |
The market in ZIP 93130, located in California, presents a dynamic environment that is currently in flux. The Fair Market Rent (FMR) for the area stands at $2990 for fiscal year 2024, indicating a stable rental pricing benchmark set by HUD. However, the absence of market rent data suggests that there may be limited private sector rental information available, which could imply a unique market situation where HUD's FMR is either closely aligned with actual market rents or where the market is less influenced by typical supply and demand dynamics seen in other areas.
The lack of percentage share of price cuts and days on market (DOM) indicates that the rental market might not be experiencing significant fluctuations or rapid turnover, which could point to a steady state of rental listings. This absence of volatility in the rental market can be interpreted as a sign of consistent demand, as landlords are not needing to frequently adjust their prices to attract tenants. Similarly, the unavailability of median home value data points to a focus on the rental market rather than the sale of homes, which could suggest that homeownership is less prevalent or desirable in this area.
The N/A% renter share figure is particularly telling. It implies that there is either a lack of comprehensive data regarding the proportion of renters in the area, or it could indicate a scenario where the majority of residents are renters. In either case, a high renter share typically signifies ongoing housing pressure, as renters often represent a segment of the population that faces challenges in accessing homeownership due to financial constraints or other barriers. This can lead to sustained demand for rental properties, creating a market where supply might struggle to keep pace with demand.
In summary, while the specific numerical data for market rent, price cut share, DOM, and median home value are unavailable, the presence of an established FMR and the implication of a high renter share suggest a market characterized by steady demand for rentals. The dynamics of ZIP 93130 lean towards a situation where demand for rental properties is likely to persist, making it an attractive area for landlords and small-portfolio investors seeking stability and potential long-term growth in rental income.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.