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Looking to buy a house in SLO County? Here are 10 listings for less than $500,000

Hoping to buy a home in San Luis Obispo County?

Housing in the area can be notoriously expensive.

In June, the median price of an existing single-family home sold in the county was $880,000, according to data from the California Association of Realtors.

However, prices are trending downward, with many active listings showing price reductions as elevated interest rates remain stagnant, according to previous Tribune reporting.

The Tribune searched through available listings in SLO County to find home prices below the area’s average.

Here’s where you can find the most affordable single-family homes in the county:

The median price of an existing single-family home sold in San Luis Obispo County in June 2025 was $880,000, according to data from the California Association of Realtors.
The median price of an existing single-family home sold in San Luis Obispo County in June 2025 was $880,000, according to data from the California Association of Realtors.

Where can I find the cheapest homes in SLO County?

As of Friday, Aug. 8, Zillow listed more than 700 single-family houses for sale in San Luis Obispo County.

Some of the lowest home prices could be found in San Miguel and Santa Margarita, as well as Atascadero and the Heritage Ranch neighborhood in Lake Nacimiento.

Where can I buy a house for under $500,000 in SLO County?

As of Friday, these 10 homes were available to buy for less than $5000,000, according to Zillow:

  • $369,000 — 1559 K St., San Miguel
  • $384,000 — 5929 Gran Paseo Way, Atascadero
  • $399,000 — 11725 Cresta Blanca Trail, Santa Margarita
  • $399,000 — 13765 Georgia Road, Santa Margarita
  • $437,650 — 232 Memphis Belle Way, San Luis Obispo
  • $469,000 — 1 Quail Ridge Drive, Atascadero
  • $485,000 — 1173 Cortez Circle, San Miguel
  • $489,000 — 4677 Silver Saddle Lane, Heritage Ranch
  • $489,000 — 7010 Morro Road, Atascadero
  • $490,000 — 5101 Bluebird Lane, Heritage Ranch

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Hannah Poukish
The Tribune
Hannah Poukish covers San Luis Obispo County as The Tribune’s government reporter. She previously reported and produced stories for The Sacramento Bee, CNN, Spectrum News and The Mercury News in San Jose. She graduated from Stanford University with a master’s degree in journalism. 
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