Montecito, CA Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

What is the average household income in Montecito CA? ›

What are the median and average incomes in Montecito? The average annual household income in Montecito is $302,974, while the median household income sits at $193,423 per year.

"The Montecito market remains incredibly robust. Demand has not waned since early on in the pandemic, and yet we are at all-time lows for inventory," observes Riskin Partner Jasmine Tennis. "This has resulted in a significant increase in pricing.

Oprah Winfrey, Ellen DeGeneres, Rob Lowe, Gwyneth Paltrow, and Katy Perry all have homes in Montecito. Ariana Grande also got married at her $6.75 million mansion in the neighborhood.

When it comes to price, Montecito's homes range from $3 million up to over $100 million. Hope Ranch's homes tend to start at a similar price point at around $3.5 million, with no upper limit on luxury.

One of the older neighborhoods in the city of Santa Barbara, the Riviera also ranks as one of the wealthiest. Named for its close resemblance to the Mediterranean coasts of France and Italy, the Santa Barbara Riviera bridges the two-mile gap between Sycamore Canyon and Mission Canyon.

What prompted Meghan Markle to sell her Montecito house and seek a mansion near celebrities with the help of the WME CEO? Meghan Markle is reportedly seeking the help of WME CEO Ari Emanuel in acquiring a luxurious mansion in Los Angeles, preferably in a neighborhood popular among celebrities.

The Duke and duch*ess of Sussex moved to Montecito in 2020 where they lived for a few months at Tyler Perry's home before buying their own $14.7 million mansion.

While Montecito, California is an enclave of the rich, the poverty rate is still at 6%, as it includes a persistent homeless population who hang out wherever they're “not supposed to”. Santa Barbara has a much larger poverty rate at 15.2% and ACCOMODATES a much larger homeless population by various means.

Montecito is best known for its rich outdoor life. Exploring stunning coasts and robust hiking trails is one of the best parts of living in this town.

In September of 2022, the Los Angeles native picked up a retreat in the celebrity-loved beach town of Montecito, California. Aniston purchased the Mediterranean-style abode from talk show legend Oprah Winfrey, who still owns property in the area.

Is Montecito a wealthy town? ›

An affluent town, the median home price was $7.5 million in 2024. The population as of 2022 is approximately 8,638 residents.

According to its Cost of Living Index (COLI) of 486.1, Montecito is 386.1% more expensive to live in than the average US city.

How rich is rich in California? As of 2022, the top 5% of earners in the state made $613,602 a year on average, according to a recent analysis from personal finance site GoBankingRates. That's roughly a 37% increase from 2017, when top earners raked in an average annual income of $447,207.

Oprah Winfrey, the powerhouse behind “The Color Purple,” has been on a promotional spree for the upcoming film, dazzling fans not only with her lavender-themed wardrobe, but also with a prized peek into her opulent Montecito, California residence now worth $100 million.