Carmichael CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Carmichael, CA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Carmichael Housing Market Information

With a population of 64,197, 26,144 total housing units (homes and apartments), and a median house value of $472,159, 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 57.84% of the town's housing units. Other types of housing that are prevalent in Carmichael include large apartment complexes or high rise apartments ( 22.11%), duplexes, homes converted to apartments or other small apartment buildings ( 9.57%), and a few row houses and other attached homes ( 9.07%).

The most prevalent building size and type in Carmichael are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 53.86% owning and 46.14% 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 46.67% of the town's housing hails from this era. Other housing ages represented in Carmichael include homes built between 1970-1999 ( 46.62%) and housing constructed between 2000 and later ( 4.89%). There's also some housing in Carmichael built before 1939 ( 1.82%).

Carmichael Home Appreciation Rates

In the last 10 years, Carmichael has experienced some of the highest home appreciation rates of any community in the nation. Carmichael real estate appreciated 67.30% over the last ten years, which is an average annual home appreciation rate of 5.28%, putting Carmichael in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Carmichael definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Carmichael's appreciation rate, at 4.61%, has been at or slightly above the national average. In the latest quarter, Carmichael's appreciation rate has been 1.23%, which annualizes to a rate of 5.01%.

Relative to California, our data show that Carmichael's latest annual appreciation rate is higher than 70% 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 2000, to assist you in making the best Carmichael real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$472,159

Carmichael, CA HOME PRICES

Value Range
> $1,233,000 2.6
$925,001 - $1,233,000 4.4
$617,001 - $925,000 12.6
$493,001 - $617,000 15.9
$370,001 - $493,000 31.3
$246,001 - $370,000 21.3
$123,001 - $246,000 7.4
$62,001 - $123,000 1.5
$0 - $62,000 3.0

Average for CA
Very High for Nation

Value Relative to Nation Value Relative to State
8.83503649635037 51.9003931847969

Number Of Homes And Apartments:
26,144

Carmichael Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
108.76% 3.66%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,553 / per month

Homeownership Rate

Homeownership
Owners 53.86
Renters 46.14
Vacant 5.96

Housing Market Details

 

Age of Homes

AGE OF Carmichael HOMES
2000 or Newer 4.9
1970 - 1999 46.6
1940 - 1969 46.7
1939 or Older 1.8

Types of Homes

TYPE OF Carmichael HOMES
Single-Family 57.8
Townhomes 9.1
Small Apt. Buildings 9.6
Apt. Complexes 22.1
Mobile Homes 1.2
Other 0.2

Home Size

SIZE OF Carmichael HOMES
No Bedroom 2.27
1 Bedroom 11.36
2 Bedrooms 28.37
3 Bedrooms 37.62
4 Bedrooms 16.61
5 or more bedrooms 3.77