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Santa Maria-Santa Barbara, CA

The Fair Market Rent for a 2-bedroom in Santa Maria-Santa Barbara, CA is $3,124 per month, ranking #5 out of 693 areas nationwide. The area median household income is $95,977, meaning a household spending Fair Market Rent on a 2-bedroom would pay 39.1% of income on housing. Rent in Santa Maria-Santa Barbara has increased 4.3% year over year. The area has a population of 444K, with 47.1% of households renting.

39.1%
Rent Burdened
of income → rent
$3,124
2BR Fair Market Rent
vs $1,250 national median
$95,977
Median Income
vs $71,049 national
$2,050
Actual Median Rent
Census ACS estimate
+4.3%
Year-over-Year
2BR FMR change
444K
Population
Census ACS
47.1%
Renters
of occupied housing
$735,700
Median Home Value
6.8%
Vacancy Rate
of housing units
13.8%
Poverty Rate
below poverty line

Fair Market Rent by Bedroom Size

$2,459
Studio
$2,746
1 Bedroom
$3,124
2 Bedroom
$4,075
3 Bedroom
$4,647
4 Bedroom

Fair Market Rents (FMRs) are set annually by the U.S. Department of Housing and Urban Development and represent the 40th percentile of gross rents for standard-quality units in an area. FMRs are used to determine payment standards for the Housing Choice Voucher program and other federal housing assistance.

Housing Affordability

In Santa Maria-Santa Barbara, CA, a household earning the area median income of $95,977 would spend 39.1% of their gross income on a 2-bedroom at Fair Market Rent. HUD considers households spending more than 30% of income on housing to be "cost-burdened." This means many renters in this area face financial strain from housing costs.

Income Needed for 2BR
$124,960
annual (30% threshold)
Hourly Wage Needed
$60
full-time (2,080 hrs/yr)
Actual Median Rent
$2,050
$1,074 below FMR

5-Year Rent Trend

+31.6% since 2021
$2,3742021$2,5162022$2,6672023$2,9942024$3,0282025$3,1242026

2-bedroom Fair Market Rent by fiscal year. Source: HUD FMR API.

Minimum Wage Affordability

The minimum wage in California is $16.50/hr. A minimum-wage worker would need to work 145.6 hours per week to afford a 2-bedroom at Fair Market Rent without exceeding 30% of income on housing. This means a single minimum-wage earner cannot afford a 2-bedroom working a standard 40-hour week. The poverty rate in Santa Maria-Santa Barbara is 13.8%, near the national average of approximately 12.4%.

State Min Wage
$16.50/hr
Hours/Week Needed
145.6 hrs
Poverty Rate
13.8%

Housing Market Context

The median home value in Santa Maria-Santa Barbara is $735,700. At a median income of $95,977, this represents a price-to-income ratio of 7.7x. 6.8% of housing units in the area are vacant, which is below the national average and suggests a tight housing market.

Rent vs. Buy
$5,150 est. mortgage
vs $3,124 FMR rent
Vacancy Rate
6.8%
of housing units

Other Areas in California

Santa Cruz-Watsonville
$4,214/mo
2BR FMR · 46.3% burden
San Francisco
$3,604/mo
2BR FMR · 32.3% burden
San Jose-Sunnyvale-Santa Clara
$3,483/mo
2BR FMR · 26.5% burden
Santa Ana-Anaheim-Irvine
$3,236/mo
2BR FMR · 41.5% burden
San Diego-Chula Vista-Carlsbad
$3,001/mo
2BR FMR · 35.2% burden

Compare Santa Maria-Santa Barbara

vs Santa Cruz-Watsonville, CAvs San Francisco, CAvs San Jose-Sunnyvale-Santa Clara, CA

Areas With Similar Rent to Santa Maria-Santa Barbara

Frequently Asked Questions

The HUD Fair Market Rent for a 2-bedroom in Santa Maria-Santa Barbara, CA is $3,124 per month. A studio is $2,459/mo, a 1-bedroom is $2,746/mo, and a 3-bedroom is $4,075/mo. The actual median gross rent from Census data is $2,050/mo.

Santa Maria-Santa Barbara has a rent burden of 39.1%, meaning a household earning the median income of $95,977 would spend 39.1% of income on a 2-bedroom at Fair Market Rent. HUD considers spending 30%+ on housing to be cost-burdened. To afford a 2-bedroom without being cost-burdened, a household would need an annual income of at least $124,960.

Santa Maria-Santa Barbara's 2-bedroom Fair Market Rent of $3,124/mo is $1,874 above the national median of $1,250/mo. Santa Maria-Santa Barbara ranks #5 out of 693 areas for highest rent in the United States.

To afford a 2-bedroom at Fair Market Rent in Santa Maria-Santa Barbara without spending more than 30% of income on housing, you would need an annual household income of at least $124,960, or a full-time hourly wage of $60/hour. The area median income is $95,977.

The 2-bedroom Fair Market Rent in Santa Maria-Santa Barbara increased by 4.3% compared to the prior year. This is a modest increase, roughly in line with typical housing cost trends.

Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. Rent burden is calculated as annual 2BR FMR divided by area median household income. Census data (income, home value, population, vacancy) is from the ACS 5-Year estimates. Unemployment rates are from BLS Local Area Unemployment Statistics.