Carmichael appreciation rates and housing market information

Carmichael housing market information

With 49,742 people, 21,383 houses or apartments, and a median cost of homes of $328,920, real estate costs in Carmichael are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

single-family detached homes are the single most common housing type in Carmichael, accounting for 59.12% of the town's housing units. Other types of housing that are prevalent in Carmichael include large apartment complexes or high rise apartments (25.35%), row houses and other attached homes (8.42%), and a few duplexes, homes converted to apartments, or other small apartment buildings (6.80%).

The most prevalent building size and type in Carmichael are three and four bedroom single-family detached homes. The town has a mixture of owners and renters, with 54.79% owning, and 41.70% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Carmichael's housing was primarily built during this period, from the '40s through the '60s. A full 49.82% of the town's housing hails from this era. Other housing ages represented in Carmichael include homes built between 1970-1994 (45.41%), and housing constructed from 1995 and later (2.77%). There's also some housing in Carmichael built between 1939 and earlier (2.00%).

Carmichael home appreciation rates

Real estate appreciation rates in Carmichael have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.15% during the period.

Over the last year, Carmichael appreciation rates have trailed the rest of the nation. In the last twelve months, Carmichael's appreciation rate has been -16.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Carmichael were at 1.72%, which equates to an annual appreciation rate of 6.88%.

Importantly, this makes Carmichael one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to California, our data show that Carmichael's latest annual appreciation rate is higher than 42% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Carmichael differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Carmichael - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Carmichael real estate investment or home purchase decisions.