Carmichael, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Carmichael Neighborhoods Since 2000




Carmichael, CA Real Estate Data


Carmichael Housing Market Information

With 64,197 people, 25,956 houses or apartments, and a median cost of homes of $404,907, 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 56.75% of the town's housing units. Other types of housing that are prevalent in Carmichael include large apartment complexes or high rise apartments ( 23.98%), duplexes, homes converted to apartments or other small apartment buildings ( 9.42%), and a few row houses and other attached homes ( 8.38%).

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 54.24% owning and 45.76% renting.

There is a lot of housing in Carmichael built from 1970 to 1999 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 Carmichael built between 1940-1969 ( 46.74%). A lesser amount of the housing stock also hails from between 2000 and later ( 4.41%). There's also some housing in Carmichael built before 1939 ( 1.23%).

Carmichael Home Appreciation Rates

Carmichael's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Carmichael during the period has been just -1.60%, which is lower than 80% of US communities.

Appreciation rates are so strong in Carmichael that despite a nationwide downturn in the housing market, Carmichael real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Carmichael appreciation rates continue to be some of the highest in America, at 7.90%, which is higher than appreciation rates in 90.93% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Carmichael. Carmichael appreciation rates in the latest quarter were at 2.58%, which equates to an annual appreciation rate of 10.74%.

Relative to California, our data show that Carmichael's latest annual appreciation rate is higher than 80% 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:
$404,907

Carmichael, CA HOME PRICES

Value Range
> $1,372,000 2.0
$1,029,001 - $1,372,000 2.0
$686,001 - $1,029,000 7.1
$549,001 - $686,000 8.2
$412,001 - $549,000 22.9
$274,001 - $412,000 31.3
$137,001 - $274,000 17.6
$69,001 - $137,000 3.2
$0 - $69,000 5.8

Average for CA
Very High for Nation

Value Relative to Nation Value Relative to State
9.48058792527962 52.0475561426684

Number Of Homes And Apartments:
25,956

Rent & Ownership

 

Average Market Rent:
$1,354 / per month

Homeownership Rate

Homeownership
Owners 54.24
Renters 45.76
Vacant 7.85

Housing Market Details

 

Age of Homes

AGE OF Carmichael HOMES
2000 or Newer 4.4
1970 - 1999 47.6
1940 - 1969 46.7
1939 or Older 1.2

Types of Homes

TYPE OF Carmichael HOMES
Single-Family 56.7
Townhomes 8.4
Small Apt. Buildings 9.4
Apt. Complexes 24.0
Mobile Homes 1.2
Other 0.2

Home Size

SIZE OF Carmichael HOMES
No Bedroom 1.40
1 Bedroom 13.50
2 Bedrooms 27.44
3 Bedrooms 37.50
4 Bedrooms 16.16
5 or more bedrooms 4.00

Carmichael Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
70.03% 3.17% 4 8
* 10 is highest