Elk Grove appreciation rates and housing market information

Elk Grove housing market information

With 60,255 people, 18,903 houses or apartments, and a median cost of homes of $288,255, Elk Grove real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Elk Grove, accounting for 88.68% of the town's housing units. Other types of housing that are prevalent in Elk Grove include row houses and other attached homes (4.14%), large apartment complexes or high rise apartments (3.06%), duplexes, homes converted to apartments, or other small apartment buildings (2.32%), and a few mobile homes or trailers (1.76%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Elk Grove. Owner-occupied housing accounts for 80.44% of Elk Grove's homes, and 77.31% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Elk Grove built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Elk Grove built from 1995 and later (21.62%). A lesser amount of the housing stock also hails from 1940-1969 (7.65%), and some were built from 1939 and earlier (7.65%).

Elk Grove home appreciation rates

Real estate appreciation rates in Elk Grove have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.31% during the period.

Over the last year, Elk Grove appreciation rates have trailed the rest of the nation. In the last twelve months, Elk Grove's appreciation rate has been -15.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elk Grove were at 1.76%, which equates to an annual appreciation rate of 7.04%.

Importantly, this makes Elk Grove 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 Elk Grove's latest annual appreciation rate is higher than 43% 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 Elk Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elk Grove - 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 Elk Grove real estate investment or home purchase decisions.