Elk Grove, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elk Grove, CA Real Estate Data


Elk Grove Housing Market Information

With 166,913 people, 48,737 houses or apartments, and a median cost of homes of $416,226, 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 86.39% of the city's housing units. Other types of housing that are prevalent in Elk Grove include large apartment complexes or high rise apartments ( 8.80%), row houses and other attached homes ( 2.38%), 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 70.85% of Elk Grove's homes, and 72.51% 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 ( 45.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.65%).

Elk Grove Home Appreciation Rates

Homes have actually lost value in Elk Grove over the last then years, as home values have seen a decline of 18.86% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Elk Grove home appreciation rates at 2.58%, which equates to an annual appreciation rate of 10.74%.

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 7.92%, which is higher than appreciation rates in 91.04% 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 2.58%, which equates to an annual appreciation rate of 10.74%.

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:
$416,226

Elk Grove, CA HOME PRICES

Value Range
> $1,486,000 0.9
$1,114,001 - $1,486,000 0.8
$743,001 - $1,114,000 3.9
$594,001 - $743,000 9.4
$446,001 - $594,000 22.2
$297,001 - $446,000 41.9
$149,001 - $297,000 17.8
$74,001 - $149,000 0.8
$0 - $74,000 2.3

Average for CA
Very High for Nation

Value Relative to Nation Value Relative to State
8.95941910171576 50.1981505944518

Number Of Homes And Apartments:
48,737

Rent & Ownership

 

Average Market Rent:
$1,839 / per month

Homeownership Rate

Homeownership
Owners 70.85
Renters 29.15
Vacant 4.70

Housing Market Details

 

Age of Homes

AGE OF Elk Grove HOMES
2000 or Newer 45.2
1970 - 1999 50.6
1940 - 1969 3.7
1939 or Older 0.5

Types of Homes

TYPE OF Elk Grove HOMES
Single-Family 86.4
Townhomes 2.4
Small Apt. Buildings 1.8
Apt. Complexes 8.8
Mobile Homes 0.5
Other 0.1

Home Size

SIZE OF Elk Grove HOMES
No Bedroom 0.69
1 Bedroom 2.99
2 Bedrooms 11.31
3 Bedrooms 36.62
4 Bedrooms 35.89
5 or more bedrooms 12.50

Elk Grove 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
70.00% 3.17% 4 8
* 10 is highest