The typical owner-occupied home in San Luis Obispo is worth about $935,100, 27% above the California median of $734,700 and 2.8 times the national median of $332,700. Owners pay a median $5,847 a year in property taxes, about 0.63% of their home's value, lower than the California rate of 0.70%. The median household earns $73,685 a year, so the median home costs 12.7 times the median income (7.4 times for California). 40% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
San Luis Obispo at a glance
| San Luis Obispo | California | U.S. | |
|---|---|---|---|
| Median home value | $935,100 | $734,700 | $332,700 |
| Median property tax paid per year | $5,847 | $5,124 | $3,119 |
| Property tax as a share of value | 0.63% | 0.70% | 0.94% |
| Median household income | $73,685 | $99,122 | $80,734 |
| Homes lived in by their owners | 40% | 56% | 65% |
| Owner homes with a mortgage | 62% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $3,110 | $2,946 | $1,963 |
| Those costs as a share of the owners' income | 24.3% | 24.8% | 21.0% |
| Median rent | $1,965 | $2,036 | $1,413 |
| Rent as a share of renters' income | 44.7% | 32.8% | 30.6% |
| Median year homes were built | 1977 | 1976 | 1980 |
| Vacant homes | 8.1% | 7.5% | 10.1% |
| Population | 48,491 | 39,287,377 | 334,922,499 |
What a typical home costs per month in San Luis Obispo
At this week's average 30-year rate of 7.11%, buying the median San Luis Obispo home of $935,100 with 20% down costs about $5,913 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,621, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $253,411 for the 20%-down payment. That payment is 96% of the median San Luis Obispo household income of $73,685; at that income and 20% down, the 28% guideline points to a home of about $272,000.
The median rent here is $1,965 a month, so owning the median home costs about $3,948 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $187,020 |
|---|---|
| Loan amount | $748,080 |
| Principal and interest | $5,032 |
| Property taxes (0.63% a year) | $491 |
| Homeowners insurance (our estimate, 0.5% a year) | $390 |
| PMI | $0 |
| Total per month | $5,913 |
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| Down payment | $32,728 |
|---|---|
| Loan amount | $918,163 |
| Principal and interest | $6,177 |
| Property taxes (0.63% a year) | $491 |
| Homeowners insurance (our estimate, 0.5% a year) | $390 |
| FHA mortgage insurance | $564 |
| Total per month | $7,621 |
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Questions about home buying in San Luis Obispo
What is the median home value in San Luis Obispo?
About $935,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in San Luis Obispo?
Homeowners pay a median $5,847 a year, which is about 0.63% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in San Luis Obispo?
For the median home with 20% down at 7.11%, the payment is about $5,913 a month. Keeping that under 28% of gross income takes about $253,411 a year.
More about San Luis Obispo
- Mortgage Refinance in San Luis Obispo
- Debt Relief in San Luis Obispo
- Home Equity Loans in San Luis Obispo
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data