Santa Barbara, CA Multifamily Market Report Q3 2025

Market Overview

‍The multifamily market in Santa Barbara, California remains exceptionally tight with vacancy holding at approximately 3.3 percent in Q3 2025. Average asking rent stands near $2,546 per unit, marking year-over-year growth of about 1.2 percent. Only 201 units are under construction, limiting new supply and helping maintain stability in rents and occupancy through 2026.

‍About Matthews

‍Matthews Real Estate Investment Services is a national advisory and research firm specialising in multifamily investment sales, debt and structured finance. Their Santa Barbara Q3 2025 market report combines detailed metro-level data on vacancy, rent trends, supply pipeline and investment activity to support owners, developers and investors in timing decisions and strategic positioning. To read the full report, click here.