Santa Monica, CA

Very High · 310

California · Population 91,535 · Updated March 2026

$2,338
Median Rent / Month
$109,739
Median Income
$1,810,200
Median Home Value
$2,492
Owner Costs / Month

Affordability

How far your income goes in Santa Monica

25.6%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in California

State-level tax rates that affect your costs

13.3%
Income Tax (Top Rate)
7.25%
Sales Tax
0.71%
Property Tax Rate

Estimated Annual Costs

$28,056
Annual Rent
$14,595
State Income Tax
$12,852
Property Tax (est.)

Cost of Living Overview

Santa Monica has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 310 (where 100 equals the national median), Santa Monica residents can expect to pay median rent of $2,338/month while earning a median household income of $109,739/year.

The median home value in Santa Monica, CA is $1,810,200, with typical monthly owner costs around $2,492 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.6%, Santa Monica falls within the generally affordable range, though it's approaching the 30% burden threshold.

California's top income tax rate of 13.3% is among the highest in the nation, adding to the overall cost burden. Combined with a 7.25% sales tax rate and 0.71% effective property tax rate, the overall tax environment is a factor in the total cost of living in Santa Monica.

Frequently Asked Questions

Common questions about living costs in Santa Monica

What is the cost of living in Santa Monica, CA?
The cost of living index in Santa Monica, CA is 310 (US average = 100). Median monthly rent is $2,338, median household income is $109,739/year, and the median home value is $1,810,200.
Is Santa Monica, CA affordable?
No, Santa Monica is more expensive than the national average with a cost index of 310. The rent-to-income ratio is 25.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Santa Monica, CA?
The median gross rent in Santa Monica, CA is $2,338 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $28,056.
What is the median household income in Santa Monica?
The median household income in Santa Monica, CA is $109,739 per year. This compares to the national median of approximately $80,000.
What are the taxes like in California?
California has a top income tax rate of 13.3%, a sales tax of 7.25%, and an effective property tax rate of 0.71%.