Buying a Home When You’re Single: Is Homeownership Possible on One Income?

You’ve got the vision—owning your own place in Southern California. You want that little slice of paradise, but every time you check out home prices, you feel like you might as well be dreaming. Especially when you’re single, and it’s all on you to make it happen. The market in Southern California (or really, all of Cali for that matter) can feel like a tough nut to crack.

But here’s the thing: While it’s true that prices are higher than most parts of the country, it doesn’t mean homeownership is out of reach. If you’re open to being a bit unconventional with your approach, there are ways to make it work—especially in places like Ventura County, Santa Barbara, and even Palm Springs, where there are still some opportunities that might surprise you.

The Realities of the Market (Without the Panic)

Let’s face it— home prices in California are higher than the national average. As of 2024, the median home price in Ventura County is around $735,000, while in Santa Barbara County it’s about $1.1 million, and in Palm Springs, you’re looking at $700,000. That’s a lot to work with when you’re buying solo. But even with rising prices, there are ways to get creative and make the numbers work in your favor.

It doesn’t mean you have to walk away from getting a mortgage altogether or give up on the idea of buying just because you’re flying solo. It just means you might need to rethink your approach a bit.

Buy a Fixer-Upper—It’s Easier Than You Think

Here’s where you can get a little strategic: consider buying a fixer-upper. You might be thinking, “I don’t have the time or energy for that,” but hear me out—it could be a game-changer.

While properties in some parts of Southern California can be priced beyond reach, buying a home that needs some work can actually save you a significant amount of money up front. You don't need to find a total disaster zone, either. Think of it more like a “cosmetic fixer”—a home that might need some new flooring, fresh paint, maybe a bathroom or kitchen upgrade. These are the types of properties that typically come with a lower price tag, and with a little sweat equity, you’ll be building value from day one.

For example, in Ventura County, you can still find single-family homes priced under $700,000 in some areas, especially in neighborhoods that aren’t “hot” right now, like Oxnard or parts of Camarillo. Even in more competitive areas like Thousand Oaks, you may find a few homes that need a little TLC at a more reasonable price. Yes, it takes time, and it also means being patient, but if you’re willing to live through a few projects, you’ll be setting yourself up for long-term growth.

Explore Emerging Areas (They’re Not as Far as You Think)

Now, let’s talk about location. You’re probably not going to be able to afford the chic downtown Santa Barbara loft or the cozy Santa Monica bungalow on your own. But that doesn’t mean you’re stuck in perpetual renting mode.

If you’re flexible about where you live, consider emerging areas that are not as pricey, but still close to everything you love about SoCal. You don’t have to look in the traditional “prime” areas to find great opportunities.

• Ventura County: Think about neighborhoods like Simi Valley or Fillmore, where home prices are generally lower than more popular cities like Camarillo or Ventura. You’re still close to the coast, to great hiking, and to all the reasons people love living there—without paying the premium for proximity to Malibu.

• Santa Barbara: If you have your heart set on living in Santa Barbara, consider outlying areas like Goleta or Carpinteria, where prices are a bit more accessible. You’re still near all the amenities and beauty, but without the ultra-high premiums that come with living closer to downtown.

• Palm Springs: Palm Springs is one of the more affordable desert cities in SoCal, but some areas like Cathedral City or Desert Hot Springs offer homes at lower price points. Plus, the area’s popularity is on the rise, meaning the property values here have the potential for long-term growth.

And it’s not just about price—it’s about growth potential. Look for areas that are starting to see new development, but haven’t yet been discovered by the masses. In some cases, being a bit outside of the main action can put you in a prime position to benefit from future appreciation.

Final Thought: Homeownership Is Possible, Even Solo

Buying a home as a single in Southern California isn’t going to be easy, but it’s not impossible, either. It’s about adjusting expectations, being strategic with where and what you buy, and being patient with the process. Buying a home isn’t just about the place you live right now—it’s about setting yourself up for future financial stability and growth. Whether that means buying a fixer-upper in Simi Valley, exploring a property in up-and-coming Desert Hot Springs, or finding that perfect hidden gem in Carpinteria, there are still ways to make homeownership work.

Also, don’t overlook the value of working with the right lender—mortgage brokers and banks are just tools in the process, and they can help you understand the best financing options for your situation. It’s easy to feel like the system is stacked against you, but lenders are there to help, and getting pre-approved for a loan can often give you a clearer picture of what you can afford (and what’s realistic) in this market.

The bottom line: Homeownership doesn’t have to be a pipe dream. With a little creativity and a willingness to think outside the box, you can still find a way to make it happen.

If you want to chat more about specific areas or get some personalized advice, feel free to reach out. There’s a lot more opportunity than you might think.