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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Elk Grove, CA Real Estate Market

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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Elk Grove, CA Housing Market Trends

With 177,558 people, 54,262 houses or apartments, and a median cost of homes of $612,023, real estate costs in Elk Grove 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 Elk Grove, accounting for 87.70% of the city's housing units. Other types of housing that are prevalent in Elk Grove include large apartment complexes or high rise apartments ( 7.72%), row houses and other attached homes ( 2.46%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.57%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elk Grove. Owner-occupied housing accounts for 73.68% of Elk Grove's homes, and 74.40% 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 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 Elk Grove built between 2000 and later ( 47.06%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.39%).

Elk Grove Home Appreciation Rates

In the last 10 years, Elk Grove has experienced some of the highest home appreciation rates of any community in the nation. Elk Grove real estate appreciated 116.79% over the last ten years, which is an average annual home appreciation rate of 8.05%, putting Elk Grove in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Elk Grove definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 -2.45%, 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 3.73%, which equates to an annual appreciation rate of 15.76%.

Relative to California, our data show that Elk Grove's latest annual appreciation rate is lower than 60% 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 city. 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 2000, to assist you in making the best Elk Grove real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$612,023

Elk Grove, CA Home Prices
> $1,329,000
$997,001 - $1,329,000
$665,001 - $997,000
$532,001 - $665,000
$398,001 - $532,000
$266,001 - $398,000
$133,001 - $266,000
$66,001 - $133,000
$0 - $66,000
1.9%
1.9%
3.7%
3.7%
33.6%
33.6%
33.8%
33.8%
19.7%
19.7%
4.7%
4.7%
0.5%
0.5%
0.7%
0.7%
1.4%
1.4%
0% 100.0%
% of Homes
Average

for California

Very High

for nation

Number of Homes And Apartments:

54,262

Elk Grove Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,428 / per month

Homeownership Rate

Owners
Renters
Vacant
73.7%
73.7%
26.3%
26.3%
2.2%
2.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
47.1%
47.1%
49.0%
49.0%
3.4%
3.4%
0.5%
0.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
87.7%
87.7%
2.5%
2.5%
1.6%
1.6%
7.7%
7.7%
0.5%
0.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
2.5%
2.5%
10.1%
10.1%
37.1%
37.1%
37.3%
37.3%
12.1%
12.1%
0% 100.0%
% of Homes