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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 166,913 people, 49,316 houses or apartments, and a median cost of homes of $406,308, 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 86.28% of the city's housing units. Other types of housing that are prevalent in Elk Grove include large apartment complexes or high rise apartments ( 8.89%), row houses and other attached homes ( 2.36%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.76%).
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 70.88% of Elk Grove's homes, and 72.93% 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 ( 46.05%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.23%).
Elk Grove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elk Grove during the period has been just -1.15%, which is lower than 70% of US communities.
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 10.06%, which is higher than appreciation rates in 94.03% 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 2.60%, which equates to an annual appreciation rate of 10.82%.
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.
|$1,059,001 - $1,411,000||0.8|
|$706,001 - $1,059,000||5.1|
|$564,001 - $706,000||11.4|
|$424,001 - $564,000||26.2|
|$282,001 - $424,000||37.8|
|$141,001 - $282,000||14.8|
|$71,001 - $141,000||0.8|
|$0 - $71,000||2.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Elk Grove HOMES|
|2000 or Newer||46.0|
|1970 - 1999||50.2|
|1940 - 1969||3.2|
|1939 or Older||0.5|
|TYPE OF Elk Grove HOMES|
|Small Apt. Buildings||1.8|
|SIZE OF Elk Grove HOMES|
|5 or more bedrooms||12.04|