Rental numbers for Santa Cruz County, CA
The typical home here runs -$4,858 a month at 7.78% with 25% down. 0 of 7 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 3.6%.
- Gross yield
- 3.7%
- typical home, Zillow
- Median ZIP yield
- 3.6%
- 7 ZIPs with full data
- Cash flow
- -$4,858/mo
- at 7.78%, 25% down
- Typical price
- $1,149,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $3,506/mo
- Zillow ZORI, Aug 2026
ZIP codes in Santa Cruz County
16 with published figures
| 95007Boulder Creek | $764,000 | $4,370* | 6.9% | 4.1% | -$1,507 | n/a |
| 95041Felton | $797,000 | $4,520* | 6.8% | 4.1% | -$1,568 | n/a |
| 95064Santa Cruz | $695,000 | $3,810* | 6.6% | 3.7% | -$1,625 | n/a |
| 95018Ben Lomond | $836,000 | $4,520* | 6.5% | 3.8% | -$1,879 | n/a |
| 95019Watsonville | $758,000 | $3,810* | 6.0% | 3.3% | -$1,977 | n/a |
| 95017Davenport | $975,000 | $4,800* | 5.9% | 3.3% | -$2,577 | n/a |
| 95005Ben Lomond | $908,000 | $4,430* | 5.9% | 3.2% | -$2,451 | n/a |
| 95006Boulder Creek | $725,000 | $3,250 | 5.4% | 2.8% | -$2,205 | n/a |
| 95076Watsonville | $834,000 | $3,186 | 4.6% | 2.1% | -$3,004 | +5.4% |
| 95065Santa Cruz | $1,343,000 | $4,800* | 4.3% | 1.9% | -$5,106 | n/a |
| 95073Soquel | $1,371,000 | $4,300* | 3.8% | 1.5% | -$5,707 | n/a |
| 95066Scotts Valley | $1,257,000 | $3,844 | 3.7% | 1.4% | -$5,336 | n/a |
| 95003Aptos | $1,340,000 | $3,975 | 3.6% | 1.3% | -$5,759 | +8.7% |
| 95062Santa Cruz | $1,318,000 | $3,584 | 3.3% | 1.1% | -$5,897 | +3.6% |
| 95010Capitola | $1,239,000 | $3,337 | 3.2% | 0.9% | -$5,699 | +5.8% |
| 95060Santa Cruz | $1,388,000 | $3,518 | 3.0% | 0.9% | -$6,402 | +1.9% |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +4.6%
- Rent, 12 months
- +3.3%
- Rent minus price growth
- -1.3 pts
- Property tax
- 0.64%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $1,027,946 | $2,842 |
| Aug 2022 | $1,160,209 | $3,176 |
| Aug 2023 | $1,106,931 | $3,316 |
| Aug 2024 | $1,126,524 | $3,379 |
| Aug 2025 | $1,098,052 | $3,393 |
| Aug 2026 | $1,148,774 | $3,506 |
HUD Fair Market Rent
FY2027, Santa Cruz-Watsonville, CA MSA
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $3,230 | $3,390 | $4,254 | $5,531 | $5,748 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 7.4
- 714 units, last 12 months
- National percentile
- 61th
- among US counties
Tools
Test a listing in Santa Cruz County against today's rate.
Open the calculatorPart of the Santa Cruz, CA metro.
Questions
- Is Santa Cruz County good for rental property?
- The typical home here runs -$4,858 a month at 7.78% with 25% down. 0 of 7 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 3.6%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Santa Cruz County?
- About 0.64% of value, from Census ACS median taxes paid over median home value. On a $1,149,000 home that is about $7,306 a year.
- What is Fair Market Rent in Santa Cruz County?
- HUD's FY2027 Fair Market Rent here is $3,390 for a 1-bedroom, $4,254 for a 2-bedroom and $5,531 for a 3-bedroom. Typical cash flow at today's rate is -$4,858 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.