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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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 176,124 people, 53,627 houses or apartments, and a median cost of homes of $620,584, 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.

Elk Grove is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Elk Grove than is found in 98% of the communities in America.

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 73.55% of Elk Grove's homes, and 73.84% 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 ( 46.44%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.29%).

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 168.14% over the last ten years, which is an average annual home appreciation rate of 10.37%, putting Elk Grove in the top 10% 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.

Appreciation rates are so strong in Elk Grove that despite a nationwide downturn in the housing market, Elk Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elk Grove appreciation rates continue to be some of the highest in America, at 24.48%, which is higher than appreciation rates in 91.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elk Grove. Elk Grove appreciation rates in the latest quarter were at 8.64%, which equates to an annual appreciation rate of 39.29%.

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

Relative to California, our data show that Elk Grove'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 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:
$620,584

Elk Grove, CA HOME PRICES

> $1,417,000
1.3%
1.3%
$1,063,001 - $1,417,000
2.2%
2.2%
$709,001 - $1,063,000
25.6%
25.6%
$567,001 - $709,000
34.3%
34.3%
$425,001 - $567,000
26.0%
26.0%
$284,001 - $425,000
7.7%
7.7%
$142,001 - $284,000
1.1%
1.1%
$71,001 - $142,000
0.4%
0.4%
$0 - $71,000
1.3%
1.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for CA

Value Relative To Nation

Number Of Homes And Apartments:
53,627

Elk Grove Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
179.70% 4.79%
7
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,814 / per month

Homeownership Rate

Owners
73.5%
73.5%
Renters
26.5%
26.5%
Vacant
2.4%
2.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
46.4%
46.4%
1970 - 1999
49.8%
49.8%
1940 - 1969
3.3%
3.3%
1939 or Older
0.5%
0.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
87.2%
87.2%
Townhomes
2.8%
2.8%
Small Apt. Buildings
1.7%
1.7%
Apt. Complexes
7.6%
7.6%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.8%
0.8%
1 Bedroom
2.8%
2.8%
2 Bedrooms
10.3%
10.3%
3 Bedrooms
35.7%
35.7%
4 Bedrooms
38.1%
38.1%
5 or more bedrooms
12.2%
12.2%
0.0% 100.0%
% OF HOMES