There are currently 17,500 real estate properties in Santa Monica, CA, with a median automated valuation model (AVM) price of $1,652,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Santa Monica, CA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Santa Monica, CA, is $1,814,704.00, with the most expensive house in Santa Monica, CA, topping out at $88,716,700.00 and the cheapest home in Santa Monica, CA, clocking in at $216,600.00. In other words, there’s something for every potential homebuyer or savvy investor in Santa Monica, CA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Santa Monica, CA, is on a rollercoaster ride. The average rent price in Santa Monica, CA, is $4,023.00. Indeed, when looking to rent in Santa Monica, CA, you can expect to pay as little as $1,260.00 or as much as $8,260.00, with the average rent median estimated to be $3,820.00. The good news is that finding an affordable and desirable property to rent in Santa Monica, CA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Santa Monica, CA area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Santa Monica, CA and much more. Save thousands at closing with home foreclosure listings in Santa Monica, CA — up to 75% off market value!
Santa Monica is located in Los Angeles, California, with an estimated municipal population of 90,401 residents. All of the best foreclosed homes for sale in Santa Monica are located in the following zip code areas on Foreclosure.com: 90401 90402 90403 90404 90405 90406 90407 90408 90409 90410 90411. The estimated population per square kilometer (.62 miles) in Santa Monica is 4,147.
So, about how much do homes cost in Santa Monica? The most recent median value of resident-owned homes in Santa Monica is 1,382,459. An estimated 29 percent of households in Santa Monica own their homes, with an average family size of 2.9. The median household income in Santa Monica is 96,570, with48.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Santa Monica, the median commute time of resident workers (in minutes) is 26.1. And last, but certainly not least, are you looking for homes to rent in Santa Monica? If so, the average rent price paid by renters in Santa Monica is 1,802, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Santa Monica, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Santa Monica is 40.1, split between 49.9 percent male versus 50.1 female. The percentage of residents who report being married in Santa Monica is 40, with an average family size of 2.9.
The percentage of residents who report their race in Santa Monica is as follows:
|Black / African American||4.5%|
|American Indian / Alaskan Native||0.3%|
|Native Hawaiian / Other Pacifc Islander||0.1%|
Looking for family-friendly neighborhoods in and/or near Santa Monica? Or maybe you are searching for 55+ active adult communities in and/or near Santa Monica?
The percentage of residents who report their age in Santa Monica is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Santa Monica with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Santa Monica.
How do you know that living in -- or moving to -- Santa Monica is right where you need to be? Perhaps you grew up in Santa Monica or already live nearby; therefore, the decision to buy a home in Santa Monica is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Santa Monica for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Santa Monica:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Santa Monica.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Santa Monica can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Santa Monica, meanwhile, can field multiple offers from more qualified buyers.