San Luis Obispo, CA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

San Luis Obispo, CA Housing Market Trends

With 47,459 people, 18,995 houses or apartments, and a median cost of homes of $749,085, real estate costs in San Luis Obispo are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

Single-family detached homes are the single most common housing type in San Luis Obispo, accounting for 45.11% of the city's housing units. Other types of housing that are prevalent in San Luis Obispo include large apartment complexes or high rise apartments ( 25.09%), duplexes, homes converted to apartments or other small apartment buildings ( 13.99%), and a few row houses and other attached homes ( 8.91%).

People in San Luis Obispo primarily live in small (one, two or no bedroom) single-family detached homes. San Luis Obispo has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in San Luis Obispo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in San Luis Obispo built between 1940-1969 ( 28.98%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.48%). There's also some housing in San Luis Obispo built before 1939 ( 10.08%).

San Luis Obispo Home Appreciation Rates

In the last 10 years, San Luis Obispo has experienced some of the highest home appreciation rates of any community in the nation. San Luis Obispo real estate appreciated 56.12% over the last ten years, which is an average annual home appreciation rate of 4.56%, putting San Luis Obispo in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, San Luis Obispo definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, San Luis Obispo appreciation rates have trailed the rest of the nation. In the last twelve months, San Luis Obispo's appreciation rate has been 3.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in San Luis Obispo were at 1.41%, which equates to an annual appreciation rate of 5.75%.

Notably, San Luis Obispo's appreciation rate in the latest quarter is one of the lowest in America.

Relative to California, our data show that San Luis Obispo's latest annual appreciation rate is lower than 80% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within San Luis Obispo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in San Luis Obispo - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best San Luis Obispo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$749,085

San Luis Obispo, CA HOME PRICES

> $1,128,000
11.7%
11.7%
$846,001 - $1,128,000
26.7%
26.7%
$564,001 - $846,000
36.7%
36.7%
$451,001 - $564,000
10.1%
10.1%
$338,001 - $451,000
4.3%
4.3%
$226,001 - $338,000
2.6%
2.6%
$113,001 - $226,000
3.5%
3.5%
$57,001 - $113,000
2.4%
2.4%
$0 - $57,000
1.9%
1.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for CA

Value Relative To Nation

Number Of Homes And Apartments:
18,995

San Luis Obispo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
131.35% 4.07%
6
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,062 / per month

Homeownership Rate

Owners
37.8%
37.8%
Renters
62.2%
62.2%
Vacant
8.5%
8.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
11.5%
11.5%
1970 - 1999
49.5%
49.5%
1940 - 1969
29.0%
29.0%
1939 or Older
10.1%
10.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
45.1%
45.1%
Townhomes
8.9%
8.9%
Small Apt. Buildings
14.0%
14.0%
Apt. Complexes
25.1%
25.1%
Mobile Homes
6.7%
6.7%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
7.6%
7.6%
1 Bedroom
15.5%
15.5%
2 Bedrooms
34.2%
34.2%
3 Bedrooms
27.7%
27.7%
4 Bedrooms
11.3%
11.3%
5 or more bedrooms
3.6%
3.6%
0.0% 100.0%
% OF HOMES