Real Estate Investing in Ojai, California (93023)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 93023 (Ojai, CA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.9% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 26.9 — hard to cash-flow at these prices.
What’s happening in Ojai, CA (93023)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 93023 Ojai
ZIP 93023 inside Ventura County looks affordable on the surface — median value of $1.2M — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 93023 can be a a viable market for hunting ground — but the discount at $1.2M reflects genuine risk that outside investors often underestimate.
On the rental side, 93023 offers a low basis, the region around Ojai has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Put differently, 21,559 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 93023 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Ojai:
Property Strategy for 93023
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $786,977 | $1,920 | 1.8% | +3.0% | $786,977 |
| 2BR | $898,661 | $2,300 | 1.8% | +6.8% | $449,330 |
| 3BR | $1,118,692 | $3,120 | 2.0% | +7.3% | $372,897 |
| 4BR | $1,399,013 | $3,620 | 1.9% | +8.4% | $349,753 |
| 5BR | $2,307,666 | — | — | +9.7% | $461,533 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 93023 Compare?
| Metric | 93023 | Ojai | Oxnard-Thousand Oaks-Ventura, CA | California |
|---|---|---|---|---|
| Home Value | $1,158,001 | $1,158,001 | N/A | $761,003 |
| 5-Year CAGR | 3.6% | 3.6% | N/A | 5.7% |
| Avg Rent | $3,583 | $3,583 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 93023 (Ojai, CA). Anonymous, moderated, never written by AI.
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Property managers serving Ventura County
Manage rentals here? List your business →ABM Property Management, Inc. provides full property management services for homeowners associations in residential communities throughout Southern California. summary from their website
California Oaks Property Management's homepage text is minimal, but the domain name strongly suggests property management services. summary from their website
Home Sweet Home Property Management offers full-service property management rooted in Ventura County since 1990. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,158,001 |
| Monthly Rent | $3,583 |
| Price-to-Rent | 26.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +1.6% ▲ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +3.6% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 93023
Population: 21,559
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 93023
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How strict are landlord regulations in Ojai, CA?
CA law tenant-protective for landlords, and Ojai inherits those rules. Investors should still review local ordinances for rental licensing.
What is the best play in Ojai, CA?
Investors usually favor careful cash-flow rentals with hands-on management in Ojai, CA. With home values at $1.2M and rents near $3,583/mo, other strategies can work but produce consistent rather than outsized returns.
What kind of tenants rent in Ojai, CA?
Expect a solid tenant pool in Ojai, CA. The rental market absorbs $3,583/mo rents without meaningful friction.
Is house hacking profitable in Ojai, CA?
The house hack math a tougher in Ojai, CA. Owner-occupant buyers benefit from the $3,583/mo rents and $1.2M home values.
What price range are homes in Ojai, CA?
Expect median prices around $1.2M in Ojai, CA. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
You know 93023 now. You don’t know where it ranks.
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How 93023 ranks in Oxnard-Thousand Oaks-Ventura, CA
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