Rental numbers for ZIP 93454 (Santa Maria, CA)
Negative cash flow at any interest rate with 25% down: the rent does not cover operating costs and principal.
- Gross yield
- 4.5%
- rent x 12 / price
- Est. cap rate
- 2.0%
- NOI / price
- Cash flow
- -$2,376/mo
- at 7.78%, 25% down
- Typical price
- $637,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $2,361/mo
- Zillow ZORI, Aug 2026
The pro forma
Typical home, default assumptions
| Operator | Line | Amount | Source |
|---|---|---|---|
| Gross rent | $28,332 | ||
| Vacancy | $1,417 | ||
| Management | $2,153 | ||
| Property tax | $3,738 | ||
| Insurance | $1,986 | ||
| Maintenance | $6,368 | ||
| Net operating income | $12,671 | ||
| Loan payments | $41,175 | ||
| Cash flow | -$28,504 |
| Operator | Line | Amount | Source |
|---|---|---|---|
| Typical price | $636,753 | ||
| Down payment (25%) | $159,188 | ||
| Loan | $477,565 | ||
| Rate | 7.78% | ||
| Monthly payment | $3,431 | ||
| Cash in | $178,291 | ||
| Cash-on-cash return | -16.0% | ||
| DSCR | 0.31 | ||
| Break-even rate | none |
Assumptions
Change them in the calculator- Down payment25%
- A common minimum for investment-property and DSCR loans.
- Interest rate7.78%
- Freddie Mac 30-year 7.03% (week of 2026-09-24) + 0.75 point investor premium.
- Loan term30 years
- Fixed, fully amortising.
- Closing costs3% of price
- Added to cash invested.
- Insurance$1,986 a year
- NAIC 2023 average homeowners (HO-3) premium for California, $1,655, x 1.2 for a landlord policy.
- Maintenance1% of price a year
- The 1% rule of thumb; older homes run higher.
- Vacancy5% of rent
- About 18 days empty a year.
- Management8% of collected rent
- A typical full-service fee; zero if you self-manage.
Trends
Five years to August 2026
- Price, 12 months
- +3.8%
- Rent, 12 months
- +0.3%
- Rent minus price growth
- -3.5 pts
- positive means yields are improving
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $493,417 | n/a |
| Aug 2022 | $567,781 | n/a |
| Aug 2023 | $573,448 | n/a |
| Aug 2024 | $617,178 | $2,372 |
| Aug 2025 | $613,679 | $2,355 |
| Aug 2026 | $636,753 | $2,361 |
Rent references
Two sources, never blended
| Source | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| HUD Small Area FMR, FY2026 | $2,150 | $2,420 | $2,730 | $3,610 | $4,030 |
| Zillow observed rent, Aug 2026 | $2,361 typical, all home types | ||||
HUD's Fair Market Rent is the 40th percentile gross rent (rent plus utilities) for a standard unit, and it is what Section 8 vouchers pay against. Zillow's index tracks asking rents on listed homes. The two measure different things, so they are shown side by side and never averaged. HUD area: San Luis Obispo-Paso Robles, CA MSA.
Property tax
- Effective rate
- 0.59%
- ZIP area, ACS
- At the typical price
- $3,738/yr
Median real estate taxes paid divided by median home value, Census ACS 2020 to 2024. Santa Barbara County: 0.65%. Actual bills depend on the assessment, exemptions and any non-homestead rate.
Supply
- Permits per 1,000 households
- 9.1
- Santa Barbara County, last 12 months
- National percentile
- 68th
- among US counties
1,360 new housing units permitted in 2025-09 to 2026-08, Census Building Permits Survey. A high figure means more new supply competing for tenants.
Nearby ZIP codes
| ZIP | Distance | Typical price | Rent | Gross yield | Cash flow /mo |
|---|---|---|---|---|---|
| 93440Los Alamos | 10.7 mi | $896,000 | $3,000* | 4.0% | -$3,559 |
| 93458Santa Maria | 13.3 mi | $615,000 | $2,218 | 4.3% | -$2,369 |
| 93455Santa Maria | 13.7 mi | $723,000 | $3,308 | 5.5% | -$2,247 |
| 93444Nipomo | 15.8 mi | $940,000 | $2,630* | 3.4% | -$4,266 |
| 93441Los Olivos | 16.1 mi | $1,822,000 | $3,550* | 2.3% | -$9,026 |
| 93427Buellton | 19.4 mi | $919,000 | $3,390* | 4.4% | -$3,452 |
| 93434Guadalupe | 20.5 mi | $560,000 | $2,730* | 5.9% | -$1,526 |
| 93420Arroyo Grande | 21.5 mi | $1,040,000 | $2,940 | 3.4% | -$4,615 |
* HUD Fair Market Rent, 2 bedroom (no Zillow rent index for that ZIP).
Every ZIP in Santa Barbara CountySanta Maria, CA metroCalifornia
Run the numbers on a real listing
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Open the calculator for 93454Questions
- Is 93454 good for rental property?
- On the typical home here, priced at $637,000 and renting for $2,361 a month (Zillow ZORI, Aug 2026), the gross yield is 4.5% and the estimated cap rate is 2.0%. At a 7.78% investor rate with 25% down, estimated cash flow is -$2,376 a month. The median gross yield across the 8,418 ZIP codes with full Zillow data is 5.6%. These are figures for a typical property, not a judgement on any particular one.
- What is the typical rent in 93454?
- Zillow's observed rent index for 93454 was $2,361 a month in August 2026, across all home types. HUD's FY2026 Small Area Fair Market Rent for a 2-bedroom here is $2,730, the 40th percentile of gross rents and the basis for Section 8 payment standards.
- What is the property tax rate in 93454?
- The effective property tax rate is about 0.59% of value (median taxes paid divided by median home value, Census ACS 2020 to 2024). On the typical $637,000 home that is about $3,738 a year. Your bill depends on the assessment and local exemptions.
- What interest rate makes a rental in 93454 break even?
- With the default assumptions, no interest rate brings cash flow to zero: rent does not cover operating costs plus principal on a 30-year loan with 25% down.
- How fast are prices and rents changing in 93454?
- Over the 12 months to August 2026, the typical home value changed +3.8% and the typical rent changed +0.3%. Prices rising faster than rents pushes yields down.
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.
- 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.
- NAIC Homeowners Insurance Report, data for 2023
National Association of Insurance Commissioners. Read: 2023.
Average HO-3 homeowners premium by state, multiplied by 1.2 as a landlord-policy assumption.
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.