Why Are Homes So Expensive?

Housing costs are going up but Santa Barbara is no longer the most expensive place to live
Designed by Freepik

If you go to the store like I do and buy groceries, everything has gone up this past year. I noticed that things that used to be $1.99 are now $2.29. That increase on every item adds up fast. The same goes for housing.

I remember Santa Barbara being the most expensive place in the state to live, yet we now rank number eight in affordability behind: Marin, Santa Clara, San Francisco Bay Area, Napa, San Mateo, Sonoma and Santa Cruz. To buy a home in the Bay Area you need over $260,000 a year in income just to qualify. In Santa Barbara it takes over $160,000. Based on our quality of life in the area, I would say we get the better deal over the other areas that are more expensive.

It is not that Santa Barbara has gotten any cheaper to live in; it is just that other places have become more expensive. However, groceries go up everywhere and our housing has become a bit more affordable.

Elaine Abercrombie
Broker/Owner, SBAOR Past President, GREEN, SRES
eabercrombie1951@gmail.com
www.AbercrombieFineHomes.net
805-450-0086

Leave a Reply