Rancho Santa Margarita , CA

Monthly Housing Development Update | October 2021

General statistics, market trends and outlook for housing development in Rancho Santa Margarita, CA

City Housing Update for October 2021

Current Trends:

During this past month of September, the median rental price for a single family home in Rancho Santa Margarita was $3,128 and median sale price for a single family home in the city was $659,600. There were approximately 132 homes listed for sale in the city at the end of September, compared with 123 in August. During the last month, homes sold within days on the market and received offers per sale on average.

City Housing Supply:

As of the end of 2017, the total count of existing housing units in the city was 17,344. Single family housing units make up the vast majority 74.78% of Rancho Santa Margarita's housing units, 12,969 units total. Multifamily units make up 25 percent, or approximately 4,365. As of last year, the average housing density (people per household) was 2.94, compared with the state average of 2.97. At the end of the period, about 560 of housing units in the city were unoccupied, suggesting a vacancy rate of 0 percent.

Regulations & Outlook:

The City has finalized updates to it's residential zoning code that fully comply with State Laws SB 1069 and AB 2299 which allow for Accessory Dwelling Units (ADUs) to be developed on most single family lots. More commonly referred to as “Granny Flats” and “In-Law Units”, in Rancho Santa Margarita as many as 7,651 homes may now be eligible to add some form of second dwelling unit. These laws are intended by The State to boost opportunities for housing production in cities in an effort to address the growing housing deficits local communities face accross The State. Typically secondary units are constructed by homeowners in backyards, converted garages and basements of single family residences. These new regulations could now allow individual homeowners to play a significant role to increase housing production in Rancho Santa Margarita over the coming years. Consider for example, if just one percent of eligible homeowners in Rancho Santa Margarita built an ADU each year, it would contribute an additional 382 units to the city's housing stock over the next five years and create hundreds of new local construction jobs.

Local News & Policy:

The city's latest residential zoning requirements for ADUs can be found on the Rancho Santa Margarita City Page using the link or search bar at the bottom of this report. Recently More information on the latest local policies and requirements for ADUs will be available as they are passed. Check back each month for the latest changes in Rancho Santa Margarita.

Get Involved:

For homeowners and local developers who are interested in getting involved in the ADU movement locally in Rancho Santa Margarita, use Housable to get insights about the ADU housing development potential of specific properties. Housable provides zoning, permitting, estimation and design tools, many of them free of charge, to help homeowners at any step plan, permit and build their ADU projects. Use property design and calculation tools any time, get low cost insights about the ADU potetnial of your property and connect with local professionals who can help with the process when you're ready to get started. Stay up to date with the latest local trends in housing production and join the ADU movement to create more housing in Rancho Santa Margarita, one garage, basement, or backyard at a time.

Exerpts From City Housing Reports

As of 2011, about three-quarters of the housing stock in Rancho Santa Margarita was comprised of single-family homes, both detached and attached (74 percent of all units). Multi-family units comprised about 26 percent of the housing stock. The City has just 13 mobile home units, which make up less than one percent of all housing units. Table H-14 provides a breakdown of the housing stock by type along with growth trends for the City compared to the county as a whole.

The City is primarily built out and therefore SCAG has identified a 2014-2021 future housing need for Rancho Santa Margarita of only two new units -- one very low income unit and one low income unit. Second unit construction is likely the primary source of new housing units in the future.

Current Market Stats October 2021

Median Sales Price $659,600.00

Median Rental Price $3,128.00 Based on 840 sqft unit

Total Homes on Market 132

City Housing Stock 2017

Total Housing Units 17344

Single-Family Units 12969

Other Type Units 10

Unit Vacancy Rate 0.0323

Annual Units Produced (2017) 36

Go to Rancho Santa Margarita ADU Zoning Page

General City Info Rancho Santa Margarita, CA

City Population 47,853

City Area 12.96 sq. mi.

We have our final inspection TODAY and do expect it will go well. We’ve been lucky to have a nice inspector. I’ll send you more pics this weekend!

Fiona K. in Bell Canyon, CA

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City & State Housing News

State of CA What are Accessory Dwelling Units? California Department of Housing and Community Development 15/05/2017

Go to Rancho Santa Margarita ADU Zoning Page

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