By Staff Writer - February 4, 2025

2024 was an eventful year for the United States, California, and Santa Barbara. From the Olympics in Paris to the presidential election in the US, there was a lot to keep up with. Here we take a look back at 2024 and some key economic indicators for Santa Barbara County.

Employment

In November 2024, the unemployment rate was 4.3% in Santa Barbara County (up 0.2 percentage points from November 2023). This compares to an unemployment rate of 5.3% in California (up 0.4 percentage points from November 2023) and 4% in the entire US (up 0.5 percentage points from November 2023).

Employment by Industry

An average of roughly 192,000 people were employed in the non-farm sector of Santa Barbara County in 2024. Total farm employment for the county was roughly 32,000. The non-farm industries that employed the most people in Santa Barbara County during 2024 were Government (35,882 employees), Private Education and Health Services (32,145 employees), Leisure and Hospitality (28,591 employees), Professional and Business Services (27,845 employees), and Retail Trade (18,564 employees).

In Santa Barbara County, the industries with the biggest percent changes in employment from 2023 were Information (-5%); Transportation, Warehousing, and Utilities (-5%); Private Education and Health Services (+4%); Manufacturing (+3%); and Professional & Business Services (+2%).

Santa Barbara County

Industry Employment 2024 Pct. of Total Employment 2024 Change from 2023 Pct. Change from 2023
Government 35,882 18.8% 499 1.4%
Private Education and Health Services 32,145 16.8% 1287 4.2%
Leisure and Hospitality 28,591 14.9% -109 -0.4%
Professional and Business Services 27,845 14.6% 662 2.4%
Retail Trade 18,564 9.7% 47 0.3%
Manufacturing 12,273 6.4% -385 -3%
Construction 9,936 5.2% 61 0.6%
Financial Activities 6,991 3.7% 8 0.1%
Other Services 6,782 3.5% 82 1.2%
Wholesale Trade 4,773 2.5% -110 -2.3%
Information 4,245 2.2% -222 -5%
Transportation, Warehousing, and Utilities 3,327 1.7% -190 -5.4%

California

Industry Employment 2024 Pct. of Total Employment 2024 Change from 2023 Pct. Change from 2023
Private Education and Health Services 3,263,450 18.1% 163475 5.3%
Professional and Business Services 2,779,575 15.4% 4200 0.2%
Government 2,668,900 14.8% 65242 2.5%
Leisure and Hospitality 2,038,017 11.3% 27409 1.4%
Retail Trade 1,613,933 9% 4400 0.3%
Manufacturing 1,305,967 7.2% -28225 -2.1%
Construction 924,625 5.1% 11150 1.2%
Transportation, Warehousing, and Utilities 836,300 4.6% 6058 0.7%
Financial Activities 808,608 4.5% -5642 -0.7%
Wholesale Trade 664,625 3.7% -2675 -0.4%
Other Services 600,017 3.3% 12100 2.1%
Information 525,800 2.9% -33158 -5.9%

Home Prices

We use Zillow’s Home Value Index (ZHVI) to track home prices over time. The ZHVI is a measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. We use ZHVI for all single-family residences, typical value for all single-family homes in a given region, for condo/coops, for all homes with 1, 2, 3, 4 and 5+ bedrooms. We use the smoothed, seasonally adjusted series.

Home Prices - Percent Change

As show in the graph above, home prices in Santa Barbara County continue to outpace those of California and the US. In Santa Barbara the ZHVI in December 2024 was almost $967,800. In all of California the ZHVI was just over $773,000, and in the US it was $365,500. The change in ZHVI from December 2023 to December 2024 was 3.4%, 3.2%, and %2.6 for Santa Barbara County, California, and the US, respectively, seen in the graph below.

Rental Prices

We use Zillow’s Observed Rental Index (ZORI) to track rental prices. ZORI is a repeat-rent index that is weighted to the rental housing stock to ensure representativeness across the entire market, not just those homes currently listed for rent. The index is dollar-denominated by computing the mean of listed rents that fall into the 35th to 65th percentile range for all homes and apartments in a given region, which is weighted to reflect the rental housing stock. We use the smoothed, seasonally adjusted series.

Rental Prices - Percent Change

Rental prices in Santa Barbara County have grown at a faster rate since the pandemic than those in Los Angeles (LA) County and the US. In Santa Barbara County the ZORI in December 2024 was $3,613 compared to $2,821 in LA County, and $1,964 in the US, as seen above. The percent change in ZORI from December 2023 to December 2024 was 4%, 3.4%, and %2.9 for Santa Barbara County, LA County, and the US, respectively, shown below.

Demographics

In 2024, Santa Barbara County had a larger share of its population in the ages between 15 and 24, compared to California and the country. This is unsurprising given the presence of the universities and colleges in the county. Almost 90,000 residents aged 24-39 left the county between January 2022 and December 2024. This trend is much more pronounced for the county than the state of California or the US as a whole. See the tables below for more details.

The most common Race/Ethnicity in the Santa Barbara county in 2024 was “White, Hispanic,” which comprised 44% of the county’s population. This group represents 36% of Californians and 17% of US residents. In Santa Barbara County, there was a 4% decrease in the number of people who reported being White, Non-Hispanics between 2022 and 2024. There was also a 4% decrease for this group for the state of California. The US saw a negligible change in this age group. See the tables below to explore more demographic changes.

Post-pandemic Changes in Age

Santa Barbara County
Age Cohort 2022 Population 2024 Population Change % Change 2024 % of Cohort
Under 5 years 26,580 26,611 31 0% 6%
5 to 9 years 27,211 26,105 -1106 -4% 5.9%
10 to 14 years 27,948 27,009 -939 -3% 6.1%
15 to 19 years 37,118 37,030 -88 0% 8.4%
20 to 24 years 46,854 47,244 390 1% 10.7%
25 to 29 years 30,178 28,815 -1363 -5% 6.6%
30 to 34 years 28,368 27,930 -438 -2% 6.3%
35 to 39 years 26,277 25,430 -847 -3% 5.8%
40 to 44 years 25,338 25,452 114 0% 5.8%
45 to 49 years 22,606 22,663 57 0% 5.2%
50 to 54 years 23,327 22,210 -1117 -5% 5%
55 to 59 years 23,709 22,326 -1383 -6% 5.1%
60 to 64 years 24,803 24,085 -718 -3% 5.5%
65 to 69 years 22,461 22,651 190 1% 5.2%
70 to 74 years 18,698 19,540 842 5% 4.4%
75 to 79 years 13,825 15,179 1354 10% 3.5%
80 to 84 years 8,854 9,754 900 10% 2.2%
85 years and over 9,760 10,111 351 4% 2.3%
Total 443,915 440,145 -3770 -1% 100%
California
Age Cohort 2022 Population 2024 Population Change % Change 2024 % of Cohort
Under 5 years 2,139,291 2,063,225 -76066 -4% 5.3%
5 to 9 years 2,383,747 2,265,022 -118725 -5% 5.8%
10 to 14 years 2,502,366 2,404,113 -98253 -4% 6.2%
15 to 19 years 2,585,568 2,580,521 -5047 0% 6.7%
20 to 24 years 2,522,550 2,516,599 -5951 0% 6.5%
25 to 29 years 2,752,597 2,651,582 -101015 -4% 6.8%
30 to 34 years 2,999,746 2,930,348 -69398 -2% 7.6%
35 to 39 years 2,796,992 2,812,920 15928 1% 7.2%
40 to 44 years 2,615,677 2,656,425 40748 2% 6.8%
45 to 49 years 2,403,608 2,399,764 -3844 0% 6.2%
50 to 54 years 2,480,810 2,395,263 -85547 -3% 6.2%
55 to 59 years 2,401,210 2,324,979 -76231 -3% 6%
60 to 64 years 2,321,925 2,309,753 -12172 -1% 6%
65 to 69 years 1,995,631 2,048,058 52427 3% 5.3%
70 to 74 years 1,600,353 1,666,091 65738 4% 4.3%
75 to 79 years 1,143,802 1,260,952 117150 10% 3.2%
80 to 84 years 704,694 774,591 69897 10% 2%
85 years and over 690,049 716,070 26021 4% 1.9%
Total 39,040,616 38,776,275 -264341 -1% 100%
US
Age Cohort 2022 Population 2024 Population Change % Change 2024 % of Cohort
Under 5 years 18,657,742 18,444,365 -213377 -1% 5.5%
5 to 9 years 20,259,621 19,922,048 -337573 -2% 5.9%
10 to 14 years 21,152,994 20,677,637 -475357 -2% 6.2%
15 to 19 years 21,833,303 22,070,800 237497 1% 6.6%
20 to 24 years 21,652,680 21,785,419 132739 1% 6.5%
25 to 29 years 22,151,088 22,138,256 -12832 0% 6.6%
30 to 34 years 23,380,122 23,519,613 139491 1% 7%
35 to 39 years 22,372,305 22,785,287 412982 2% 6.8%
40 to 44 years 21,506,258 22,085,819 579561 3% 6.6%
45 to 49 years 19,666,973 20,104,250 437277 2% 6%
50 to 54 years 20,860,109 20,357,998 -502111 -2% 6%
55 to 59 years 21,058,109 20,279,489 -778620 -4% 6%
60 to 64 years 21,249,923 21,253,664 3741 0% 6.3%
65 to 69 years 18,766,161 19,457,994 691833 4% 5.8%
70 to 74 years 15,233,679 15,940,445 706766 5% 4.7%
75 to 79 years 10,854,327 11,997,453 1143126 11% 3.6%
80 to 84 years 6,557,159 7,300,540 743381 11% 2.2%
85 years and over 6,058,858 6,365,092 306234 5% 1.9%
Total 333,271,411 336,486,167 3214756 1% 100%

Post-pandemic Changes in Race/Ethnicity

Santa Barbara County
Race/Ethnicity 2022 Population 2024 Population Change % Change 2024 % of Cohort
White, H 191,755 194,689 2934 2% 44.2%
White, NH 186,169 179,738 -6431 -3% 40.8%
Asian, NH 23,757 23,916 159 1% 5.4%
Two or More Races, NH 11,183 11,214 31 0% 2.5%
American Indian or Alaskan Native, H 7,996 7,871 -125 -2% 1.8%
Black, NH 7,389 7,079 -310 -4% 1.6%
Two or More Races, H 6,863 6,989 126 2% 1.6%
Black, H 2,929 2,900 -29 -1% 0.7%
Asian, H 2,883 2,818 -65 -2% 0.6%
American Indian or Alaskan Native, NH 1,792 1,747 -45 -3% 0.4%
Native Hawaiian or Pacific Islander, NH 764 760 -4 -1% 0.2%
Native Hawaiian or Pacific Islander, H 435 425 -10 -2% 0.1%
Total 443,915 440,145 -3770 -1% 100%
California
Race/Ethnicity 2022 Population 2024 Population Change % Change 2024 % of Cohort
White, H 14,005,437 14,091,696 86259 1% 36.3%
White, NH 13,600,763 13,122,535 -478228 -4% 33.8%
Asian, NH 6,086,732 6,213,131 126399 2% 16%
Black, NH 2,188,843 2,162,543 -26300 -1% 5.6%
Two or More Races, NH 1,181,960 1,203,236 21276 2% 3.1%
American Indian or Alaskan Native, H 512,980 514,457 1477 0% 1.3%
Two or More Races, H 487,869 496,002 8133 2% 1.3%
Black, H 348,510 349,836 1326 0% 0.9%
Asian, H 264,918 266,447 1529 1% 0.7%
American Indian or Alaskan Native, NH 158,614 155,051 -3563 -2% 0.4%
Native Hawaiian or Pacific Islander, NH 146,303 144,498 -1805 -1% 0.4%
Native Hawaiian or Pacific Islander, H 57,687 56,844 -843 -1% 0.1%
Total 39,040,616 38,776,275 -264341 -1% 100%
US
Race/Ethnicity 2022 Population 2024 Population Change % Change 2024 % of Cohort
White, NH 195,894,196 195,167,910 -726286 0% 58%
White, H 55,721,645 57,491,032 1769387 3% 17.1%
Black, NH 42,047,680 42,548,791 501111 1% 12.7%
Asian, NH 20,219,232 21,064,277 845045 4% 6.3%
Two or More Races, NH 7,987,803 8,387,790 399987 5% 2.5%
Black, H 3,350,046 3,496,296 146250 4% 1%
American Indian or Alaskan Native, NH 2,424,494 2,437,458 12964 1% 0.7%
Two or More Races, H 2,071,828 2,193,786 121958 6% 0.7%
American Indian or Alaskan Native, H 1,988,489 2,076,634 88145 4% 0.6%
Asian, H 683,836 710,659 26823 4% 0.2%
Native Hawaiian or Pacific Islander, NH 638,035 658,892 20857 3% 0.2%
Native Hawaiian or Pacific Islander, H 244,127 252,643 8516 3% 0.1%
Total 333,271,411 336,486,167 3214756 1% 100%

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