How Much Is Prince Harry and Meghan Markle’s Montecito Mansion Really Worth?

Prince Harry and Meghan Markle's decision to move back to the U.K. with their children, Archie and Lilibet, has raised a host of questions about the couple's future—not least what they plan to do with the opulent Montecito mansion in California, where they have been residing for the past six years.

When the news of their relocation was first revealed via reports in People magazine and The Telegraph, sources insisted that the Sussexes currently have no plans to sell the property, which they purchased soon after stepping down from their roles as senior working royals.

The couple purchased the property for $14.65 million in June 2020 and Realtor.com® currently estimates that, on paper, the manse is worth around $16.73 million today. However, experts say that Harry, 41, and Meghan, 45, could end up earning much more for the dwelling if they decide to sell.

Holding onto the property would enable Harry and Meghan to travel between the U.K. and the U.S. seamlessly—and means that both will have a permanent residence in their own home country. However, there is a steep price to pay for such convenience.

First and foremost, the monthly costs of maintaining their Montecito abode are incredibly high; annual property taxes for the year 2025 were just over $152,000—or $12,667 a month—while the monthly payments on their $9.52 million adjustable-rate mortgage are estimated between $40,000 and $43,000.

Add to that the cost of maintenance, security, and monthly bills, and experts estimate that the couple could be paying as much as $650,000 a year, or $54,167 a month, just to keep their California dwelling.

By comparison, the couple was reportedly paying $24,500 a month in rent for their most recent U.K. dwelling, a royal residence on the grounds of Windsor Castle called Frogmore Cottage. The $3.3 million renovations to that home were also initially paid for by the British taxpayer, however the Sussexes were required to repay that money after stepping down as working royals.

Prince Harry and Meghan Markle's decision to move back to the U.K. has raised questions about the couple's future—not least what they plan to do with the opulent Montecito mansion in California, where they have been residing for the past six years. (Instagram/Meghan Markle) The couple bought the property for $14.65 million in June 2020, not long after they relocated to California. (Google Maps)

Then there is the question of their new U.K. home, which the couple is understood to have already found—and which they will be funding privately, without any subsidies from the royal family.

Palace sources have made crystal clear that Harry and Meghan are returning to England as private citizens, not as official working members of the royal family, which means they will not have the benefit of using a royally-subsidized residence.

Whether they choose to buy a home or rent a house, the understanding is that they will be paying for it entirely out of pocket.

When all is said and done, it could be of huge financial benefit to the couple to sell their Montecito base, provided they are happy to commit to living in the U.K. permanently, or perhaps downsize to a smaller California dwelling that is cheaper to maintain.

Speculation is already rife that the duo are busy weighing their options as far as a sale is concerned, with the New York Post suggesting that there "have been rumblings" within the star-studded Santa Barbara enclave that Harry and Meghan are eyeing a sale.

One real estate agent noted that, should the Sussexes want to test the market, they will likely do so privately, rather than listing the property on the MLS, in a bid to avoid the publicity that would come with such a high-profile move.

How much could Harry and Meghan sell their Montecito home for?

While RealEstimate home valuations are calculated using "computer-driven mathematical models that use basic property characteristics, local market information, and price trends," one of the key elements no valuation model can take into account is the celebrity cachet attached to this kind of home.

Forensic real estate appraiser Orell Anderson, president of Strategic Property Analytics, Inc, notes that, in Harry's case, his high-profile reputation will be even more significant as far as the estimated value of his home is concerned.

"This is not a celebrity. Celebrities are interesting and fun, and we love to hear about them, but this is a superstar," Anderson said, referring to Prince Harry's status as fifth in line to the throne. "These are the people at the top end. They're more than celebrities. I suspect that there might be a premium for that.

"For the right buyer, Harry and Meghan having lived there may create a kind of connoisseur value because that history cannot be reproduced."

Forensic real estate appraiser Orell Anderson, President of Strategic Property Analytics, Inc, notes that Harry's royal status could well increase the value of his home as far as some buyers are concerned. (Instagram/Meghan Markle) It's also thought that the couple may have made several updates to the property in the years since they bought it, which would not be reflected in online estimates of its value. (Instagram/Meghan Markle)

In fact, such is the prominence of Harry's international profile that Anderson said he could see how some might suggest the home is worth somewhere "in the $50 million to $60 million range," simply by glancing at its location and ownership history.

"The real question is whether the market evidence verifies that this particular property belongs there," he added.

Other key elements to factor into the home's valuation are the private renovations, additions, or upgrades that might have been made to the property in the time since it was last sold. Any changes that have been made and not publicly declared would not be included in a valuation model estimate.

While Harry and Meghan have kept many elements of their home out of the public eye, sharing just a few glimpses inside their kitchen, entryway, and office spaces in a few social media posts, it's thought that they have carried out some work to the property over the last six years, which could potentially increase its value.

For example, when the Sussexes' mansion was last put on the market, it was listed as having seven bedrooms and 13.5 bathrooms. However, recent reports suggest that it now has nine bedrooms and 16 bathrooms. Similarly, the square footage was last listed at just over 14,500, while more recent reporting puts that figure at closer to 18,000 square feet.

Interestingly, however, Anderson said that prospective buyers looking for a luxury home—at least those who aren't impressed by the public profile of its owners—will likely be more focused on the value of the land beneath the property, rather than the structure itself.

"At this end of the market, I’d start with the land, not the house," he said. "Buyers at this level have options, and they can be remarkably unforgiving about privacy, views, usable acreage, access, and anything else that changes how a property feels relative to its competitors.

"[Any] improvements [that have been made] may be extraordinary and still contribute far less than they cost to build. The house can be changed. The land cannot."

For example, when the Sussexes' mansion was last put on the market, it was listed as having seven bedrooms and 13.5 bathrooms. However, recent reports suggest that it now has nine bedrooms and 16 bathrooms. (Instagram/Meghan) A property that sits on very similar acreage in the same neighborhood as the couple's mansion is currently on the market for $29.5 million. (Instagram/Meghan)

What are the Sussexes' neighbors selling their homes for?

Then, of course, there are the market comparisons, which help to give clarity when listing prices are being set.

Any agent that might one day take on Harry and Meghan's property would undoubtedly turn their eyes to a nearby mansion, which sits on a parcel that is nearly identical to the Sussexes' home—and is currently on the market for $29.5 million.

That dwelling, which was originally listed in February 2025 for the even higher price of $36.5 million, has just five bedrooms and 6.5 bathrooms, and was first built in 1999, although it has been extensively updated in the years since.

Meanwhile, a property that sits on just 2.5 acres and offers just over 5,300 square feet of living space in the same neighborhood as the Sussexes' is currently on the market for $15.99 million.

Even if you look slightly farther afield—specifically to a Montecito home that was bought by A-list home flipper Ellen DeGeneres in November 2025—it's clear that price estimates don't always reflect a home's true value.

DeGeneres splashed out $27.44 million for that abode, which sits on just 3 acres and was sold to her in an off-market deal, despite its estimated value at the time being closer to $20 million.

Realtor.com data also indicates that Harry and Meghan could at least list their home for well above the $16.73 million valuation.

Senior economist Anthony Smith notes that the median listing price for Santa Barbara, CA—which is consistently ranked as one of the most expensive ZIPs in the U.S.—increased a whopping 49.8% between June 2020, when the Sussexes bought their home, and June 2026, rising from $4.3 million to $6.44 million.

For those luxury homes priced in the top 10%, that median list price increased even more during that same period, going from $11.6 million to $19.4 million, a surge of 71.9%.

Smith notes that putting a $16.73 million price tag on Harry and Meghan's home lags well behind the local market's overall growth—although he points out this can be the case with "extremely volatile ultraluxury" properties.

"The median days on market reflected this tightening market: Homes spent 90 days on market in June 2020, declining to 60 days by July 2026, significantly outpacing the national median appreciation of 26.4% over the same period," he adds.