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.
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.
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.
Median Sales Price $659,600.00
Median Rental Price $3,128.00 Based on 840 sqft unit
Total Homes on Market 132
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
City Population 47,853
City Area 12.96 sq. mi.
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State of CA What are Accessory Dwelling Units? California Department of Housing and Community Development 15/05/2017
State of CA Homebuyers Can Now Use Income from ADUs to ... - Yahoo Finance finance.yahoo.com 26/04/2017
State of CA Understanding Accessory Dwelling Units and Their Importance www.hcd.ca.gov 01/12/2016
State of CA California lawmakers still seeking support to pass affordable housing solutions SF Gate 01/09/2017
State of CA City, state officials address housing crisis in light of rising ‘super commuters’ The Daily Californian 25/08/2017
Go to Rancho Santa Margarita ADU Zoning Page
... Or find another city in CA