{"id":6971,"date":"2026-08-20T04:10:31","date_gmt":"2026-08-20T04:10:31","guid":{"rendered":"https:\/\/metrotransitreview.com\/?p=6971"},"modified":"2026-08-20T04:10:31","modified_gmt":"2026-08-20T04:10:31","slug":"exclusive-prince-harry-and-meghan-markle-likely-to-list-montecito-mansion-as-staggering-monthly-costs-revealed-sources","status":"publish","type":"post","link":"https:\/\/metrotransitreview.com\/?p=6971","title":{"rendered":"Exclusive | Prince Harry and Meghan Markle likely to list Montecito mansion as staggering monthly costs revealed: sources"},"content":{"rendered":"
\n

Prince Harry and Meghan Markle say they\u2019re keeping their Montecito mansion as they relocate the family back to Britain, but a source in the Santa Barbara luxury real estate market told The Post there \u201chave been rumblings\u201d the couple will sell the property, adding that \u201cevery broker wants that listing.\u201d\u00a0<\/p>\n

Read more Exclusive | Why Prince Harry and Meghan Markle are really moving back to England<\/a><\/p>\n

This comes as The Post can reveal that the property costs the former Royal couple a staggering $600,000-plus a year in mortgage payments and tax alone \u2014 a potential motivating factor for a sale.<\/p>\n

Jason Streatfeild, a Douglas Elliman broker who represents the Santa Barbara and Montecito area separately told The Post deals of this size don\u2019t always show up on the open market right away, either.<\/p>\n

\u201cMany times properties like this will trade off market with an NDA signed and all of the terms sealed until the property records at the county,\u201d Streatfeild said.<\/p>\n

\u201cIt\u2019s very possible that they would be listing it, but I have a strong feeling that it\u2019s already being discussed and shown,\u201d Streatfeild speculated to The Post.<\/p>\n

The Duke and Duchess of Sussex are moving to the UK this month with Prince Archie, 7, and Princess Lilibet, 5, ending a six-year run in California that began when they stepped back from royal duties in 2020.\u00a0<\/p>\n

The children are set to start school in Britain in September, and the couple plans to set up a new, private residence there, its location being kept under wraps.\u00a0<\/p>\n

King Charles was informed of the move over the weekend. Harry and Meghan have said they intend to hold onto both the Montecito estate and their vacation property in Portugal rather than sell either, but the numbers on the California house make that pledge look shaky.<\/p>\n

Santa Barbara County records show the Sussexes\u2019 company, Rockbridge LLC, bought the 7.38-acre estate for $14.65 million on June 9, 2020. <\/p>\n

Three days later, the company took out a $9.52 million loan from City National Bank. It\u2019s an adjustable-rate mortgage, starting at 2.49 percent and capable of climbing as high as 7.49 percent once it resets in July 2030.<\/p>\n

With no refinance on the books, The Post calculated that loan alone runs somewhere between $40,000 and $43,000 a month on a standard 30-year term. That\u2019s north of $480,000 a year before taxes, insurance or a single gardener gets paid, on a house the family is about to visit far less often.<\/p>\n

Santa Barbara County isn\u2019t cheap either. The estate\u2019s 2025 property tax bill came to $149,668, on an assessed value of $14.38 million \u2014 a number that ticks up nearly every year under California\u2019s Prop 13 rules.\u00a0<\/p>\n

County tax history obtained by The Post shows the bill climbing every year the Sussexes have owned the home, from $138,629 in 2021-2022 to $141,645, then $144,229, then $146,930, before landing at this year\u2019s $149,668. <\/p>\n

Add those five years together and Harry and Meghan have paid out roughly $721,000 in property taxes alone since the assessment settled at their purchase price, on top of everything else the mortgage already costs them.\u00a0<\/p>\n

Then add insurance, groundskeeping across nearly eight acres and the family\u2019s security detail, and the fixed cost of owning the place likely clears well over $650,000 a year before anything else. <\/p>\n

Read more 16-year-old girl faces charges after storming field, tackling middle school football player<\/a><\/p>\n

That\u2019s a hefty number to carry even by Hollywood standards, and Harry and Meghan\u2019s Hollywood income has been getting harder to come by, alongside the eight-figure sum he might have to pay out to a British newspaper company after he lost his legal case against them.<\/p>\n

\u201cI cannot imagine ever wanting to let go of this beautiful piece of property, but hanging onto it comes at a steep cost, so they might have to,\u201d the source said.\u00a0<\/p>\n

\u201cIt likely will be a few months before they list, or maybe they will give the UK a year first to see how that plays out,\u201d the source added. \u201cBut if they do decide to plant roots in the UK, I don\u2019t see a world where they will keep this home.\u201d<\/p>\n

Streatfeild meanwhile, said he\u2019s fielded plenty of questions about what the estate would actually fetch on the open market.<\/p>\n

\u201cEveryone\u2019s kind of asked me what I think the property is worth, what they would list it for and what it would sell for,\u201d Streatfeild told The Post. \u201cIt\u2019s a beautiful ocean view estate on seven acres with about 18,000 square feet. Nine bedrooms and 17 bathrooms, with the pool, tennis court, and beautiful grounds.\u201d<\/p>\n

\u201cIn Montecito, there\u2019s been three sales this year above $50 million,\u201d Streatfeild said. \u201cSo I would expect a home like this to be listed in the range of $75 million. And I would expect it to sell somewhere between $65 and $55 million based on what it has to offer in its location.\u201d<\/p>\n

The home\u2019s history makes the couple\u2019s timing look especially fortunate in hindsight. <\/p>\n

\u201cWhen they purchased it for $14.7 million in 2020, it had been on the market for five years and was originally listed for $34.5 million in 2015,\u201d Streatfeild said.<\/p>\n

\u201cThe demand for Montecito has exploded and the average sales price is just about doubled since they purchased the property,\u201d Streatfeild added. \u201cI would think they have advisors that would let them know approximately what the home is worth.\u201d<\/p>\n

\u201cBy comparison, Adam Levine\u2019s property sold for $60 million, and it\u2019s 13,000 square feet on three acres, and this is 18,000 feet on seven acres,\u201d he said. <\/p>\n

\n<\/div>\n

Their Netflix documentary \u201cCookie Queens,\u201d which Meghan personally promoted ahead of its release, opened to between $328,000 and $354,000 at the box office, trailing \u201cCatVideoFest 2026,\u201d a compilation of cat videos playing in a third as many theaters. <\/p>\n

The couple\u2019s five-year, $100 million production deal with Netflix also wound down without a full renewal, replaced by a smaller first-look arrangement.<\/p>\n

Meghan\u2019s As Ever lifestyle brand has its own crisis brewing. A website glitch in January reportedly revealed roughly 650,000 unsold units sitting in inventory, and insiders have estimated the potential write-off on unsold jam alone at around $5 million once the perishable stock passes its sell-by date.<\/p>\n

Read more Exclusive | Captain in fatal NY Harbor boat tragedy is illegal immigrant: \u2018Criminal is off our streets\u2019<\/a><\/p>\n

Reps for the Sussexes did not respond to a request for comment.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

‘Every broker wants that listing,’ a source in the Santa Barbara luxury real estate market told The Post. <\/p>\n","protected":false},"author":1,"featured_media":6970,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[],"class_list":["post-6971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-celebrity-real-estate"],"yoast_head":"\nExclusive | Prince Harry and Meghan Markle likely to list Montecito mansion as staggering monthly costs revealed: sources - Metro Transit Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/metrotransitreview.com\/?p=6971\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exclusive | Prince Harry and Meghan Markle likely to list Montecito mansion as staggering monthly costs revealed: sources - 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