Housing Forecast Takes Center Stage at State of the County 2025
On August 28, more than 350 business leaders, elected officials, and community members gathered for the annual State of the County, a signature Chamber event that continues to shape conversations around the region’s economic outlook and future opportunities.
While the program celebrated the South Coast’s innovation economy, highlighted by the premiere of the 2025 TechTopia video showcasing advancements in quantum computing, renewable energy, AI, and space exploration, housing emerged as one of the most pressing themes shaping our collective future.
The economic update, led by Peter Rupert, Director of the UC Santa Barbara Economic Forecast Project, underscored the challenges and opportunities in the regional housing market. Rising home prices, coupled with limited inventory, remain a key factor influencing workforce stability, business growth, and overall affordability in Santa Barbara County. Rupert noted that housing supply continues to lag far behind demand, placing added pressure on both rental and ownership markets.
County leaders echoed the urgency. Supervisors Roy Lee and Laura Capps, along with County Executive Officer Mona Miyasato, emphasized that expanding housing options is not just an economic issue, but a quality-of-life priority. With California’s push for more housing production and local jurisdictions working on updated housing elements, the conversation reinforced that collaboration between government, business, and community stakeholders will be vital in the year ahead.
The housing forecast is clear: without meaningful increases in supply, affordability challenges will persist and continue to impact the region’s workforce. At the same time, opportunities exist to align state incentives, local planning initiatives, and private-sector innovation to move the needle.
The 2025 State of the County left attendees with both inspiration and a call to action, celebrating the South Coast as a hub for world-class innovation while recognizing that solving the housing puzzle is essential to sustaining that momentum.
View video recordings:
Supervisor Roy Lee emphasizes the importance of working together for regional growth.