Quick facts: Santa monica, CA

Quick Facts

150.3
Cost of Living
above US average
89,947
Population
51.66
Crime Rate per 1000
above US average
$106,797
Median Income
above US average
$3,050,000
Median House Price
above US average
$6635.78
Average Rent
above US average
11%
Poverty Rate
above US average
5.8%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $106,797.

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Income Needed to Buy

βœ— Stretch
$957k/year
Based on $3,050,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $957k vs median $106,797
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Income Needed to Rent

⚠ Stretch
$284k/year
Based on $6635.78/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $284k vs median $106,797
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Santa monica, CA

Santa Monica, located in Los Angeles County, California, is a vibrant beach city known for its stunning coastline, iconic pier, and lively atmosphere. Situated just west of downtown Los Angeles, Santa Monica offers a perfect blend of urban and coastal life. With its sandy beaches stretching for nearly three miles, the city is a hub for sunbathers, surfers, and outdoor enthusiasts. The Santa Monica Pier, featuring an amusement park, aquarium, and various dining options, serves as a symbol of the city and draws visitors from around the world. The Third Street Promenade, a pedestrian-only shopping district, is lined with boutiques, restaurants, and theaters, further enhancing the city's lively vibe. Santa Monica is also committed to sustainability, boasting a bike-friendly infrastructure and numerous parks, including the expansive Palisades Park that offers breathtaking ocean views. With a diverse culinary scene and a robust arts culture, Santa Monica is not just a beach town but a dynamic community that embraces creativity and innovation. Whether you're looking to relax by the ocean or explore its bustling streets, Santa Monica has something for everyone.

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