The Great California Question: To Rent or To Buy?

If you’ve ever compared rent prices to home listings in Santa Barbara or other California metros, you’ve probably asked yourself: Is buying even worth it right now?

It’s a fair question. With high home prices and elevated interest rates, buying can look intimidating. But so can rent increases—especially when you realize you’re paying someone else’s mortgage, and not building your own equity.

The Math Behind “Rent vs. Buy” in 2025

Across California, median monthly rents hover around $3,000–$4,000, while median home payments are often $5,000–$6,000+ depending on down payment and location.

That means in the short term, renting still appears cheaper—but here’s what those numbers leave out:

• Tax deductions: Mortgage interest and property taxes can lower your effective payment.
• Home appreciation: Even at conservative growth rates, your home gains value over time.
  
• Fixed costs vs. rising rent: A 30-year fixed mortgage locks in your housing cost, while rent rarely stays still.

Over a 5- to 7-year window, the gap between renting and owning often narrows—or even flips—especially when factoring in rent hikes and equity growth.

Why Local Context Matters

In Santa Barbara, Ventura, and the Central Coast, rental demand remains strong due to limited housing inventory. That’s driving prices higher for both renters and buyers.

For many residents, buying isn’t about “beating the market”—it’s about creating long-term stability in an unpredictable housing environment.

How Craig Greene Helps You Make the Smart Move

As a Santa Barbara loan expert with over three decades of experience, Craig Greene specializes in helping first-time buyers, move-up homeowners, and investors understand their true numbers.

With access to a wide network of lenders and real-time rate comparisons, Craig helps you:

• Determine your break-even point between renting and buying
• Explore creative financing or low-down-payment programs
• Estimate your real after-tax housing costs
• Make confident, informed decisions without pressure

Ready to Run the Numbers?

If you’ve been renting and wondering whether it’s time to buy, a short consultation can help give you a clear picture.

Contact Craig Greene today to compare real mortgage options, see what you can afford, and find out whether owning in Santa Barbara could make more sense than you think.