ZIP Code · CA

ZIP 93405

Part of San Luis Obispo, CA

Pop. 25,002·San Luis Obispo County·211th most expensive ZIP in California

Median rent (all units)

$3,395/mo

Year-over-Year

+6.4%

Month-over-Month

+1.1%

vs US Median

+$1,463

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 93405 · $3,395

More expensive than 95% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,900

1 BR

$2,100

2 BR

$2,750

3 BR

$3,690

4 BR+

$4,230

Research median

$2,750/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 93405 is at its highest level since Zillow's records here began in November 2022.

Past year vs. the rest of California

Rent in ZIP 93405 changed +6.4% over the year to September 2026. Across the 819 California ZIP codes Zillow tracks, the typical change was +3.2%.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($60,399) is $1,510 a month. That is less than HUD's Fair Market Rent for a studio ($1,900).

Cheaper nearby

ZIP 93402, 6 miles away, rents for 15% less ($2,869/mo), about $6,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 93405. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$40,740/yr

At $3,395/mo median

Location

CitySan Luis Obispo

StateCA

CountySan Luis Obispo County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.4% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.4% YoY, +1.1% MoM), not inventory.

Demographics

Who lives here

ZIP 93405 (San Luis Obispo, CA) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 54.8% of residents hold a bachelor's degree or higher.

Population

25,002

Median income

$60,399

Median age

22.6

Renters

65.3%

Age distribution

63.7%

Under 187.5%

18–3463.7%

35–5410.4%

55–646.5%

65+11.9%

Gender

50.4%

49.6%

Male50.4%

Female49.6%

Race & ethnicity

73.9%

16.3%

White73.9%

Black1%

Hispanic16.3%

Asian6.7%

Other2%

Education (25+)

29.1%

54.8%

No HS diploma4.4%

HS diploma11.7%

Some college29.1%

Bachelor's+54.8%

Housing tenure

34.7%

65.3%

Owner34.7%

Renter65.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 93405 in San Luis Obispo, CA has changed in 5 years

Rent

$2,620 → $3,395

up 29.6%

Income

$49,678 → $60,399

up 21.6%

Population

25,081 → 25,002

down 0.3%

Renter share

65.4% → 65.3%

-0.1 pts

Bachelor's+

51.1% → 54.8%

+3.7 pts

Since 2023, the typical rent in ZIP 93405 in San Luis Obispo, CA has climbed from $2,620 to $3,395, a 29.6% change over five years. Median household income rose from $49,678 to $60,399 between 2021 and 2024, a 21.6% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. College-educated residents now make up 54.8% of adults here, versus 51.1% in 2021. Taken together, the five-year picture in ZIP 93405 in San Luis Obispo, CA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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Local insights

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About renting in ZIP 93405

Last updated: October 17, 2026

ZIP code 93405 covers San Luis Obispo, CA. The median rent here is $3,395/mo as of October 2026. A 1-bedroom rents for a median of $2,100/mo. A 2-bedroom rents for a median of $2,750/mo.

At 67% of local median household income ($60,399/yr), ZIP 93405 ranks as expensive compared to the national benchmark of 30%. Rents have increased 6.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 93405?

To keep rent at or below 30% of gross income, you would need to earn at least $136,000/year (about $65/hour full-time) to afford the median rent of $3,395/mo in ZIP 93405. The local median household income is $60,399/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 93405?

Rent in ZIP 93405 has risen 6.4% over the past year as of September 2026. That is the highest level since Zillow's records here began in November 2022.

How does ZIP 93405 compare to other ZIPs in California?

ZIP 93405 is one of the pricier among California ZIP codes for rent, ranking #211 of 898 at $3,395/mo. Over the year to September 2026, rent in ZIP 93405 changed +6.4%, against a typical +3.2% across the 819 California ZIP codes Zillow tracks.