Santa Barbara Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $33.98 2024 Avg. Asking Rent
  • 0.12% Y-o-Y Avg. Asking Rent Change
  • 15.15% 2024 Office Vacancy Rate

Santa Barbara office price per square foot in 2024 was $33.98 on average. This marked a +0.12% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 15.15% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • California Class A & A+ Office Space$60.31
  • California Class B Office Space$38.42
  • California Class C Office Space$26.20

Santa Barbara, CA Office Asking Rents by Class

2024 Office Vacancy Rates in Santa Barbara

Submarket Asking Rents Vacancy Rates
Santa Barbara $33.98 16.25%
Carpinteria $25.35 15.17%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Santa Barbara market was 15.15% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Santa Barbara was 15.17% in the Carpinteria submarket, while the highest office vacancy in the market was 16.25%, recorded in Santa Barbara.

Office Spaces for Rent in California

Coworking Spaces in California

Largest Office Properties Recently Completed in Santa Barbara
Office building Address SF Completed
820 East Montecito Street 820 East Montecito Street, 93103 2,922 2004
1021 Anacapa Street 1021 Anacapa Street, 93101 29,500 2001
Paseo Nuevo 701 State Street, 93101 154,900 1990
Santa Barbara Business Center 201 North Calle Cesar Chavez, 93103 90,000 1989
The Platform 126 East Haley Street, 93101 31,714 1979
Plaza del Oro 351 South Hitchcock Way, 93105 50,103 1978
3916 State Street 3916 State Street, 93105 25,788 1978
3820 State Street 3820 State Street, 93105 32,000 1970
1501-1517 Chapala Street 1501 Chapala Street, 93101 32,724 1969
3700 & 3660 State Street 3700 State Street, 93105 34,459 1967

Worth noting among recent office completions on the Santa Barbara market is 820 East Montecito Street, which is currently the largest new office development in the city, at 2,922 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Santa Barbara commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.