Carmichael, California Housing Market Prices
Carmichael Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 26% below the California median$478,370
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Median rent 17% below the California median$1,694
Housing Market Overview
| Metric | Carmichael | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $478,370 | $650,794 | $248,835 |
| Price Trend (Annual %) | 7.6% | 8.9% | 7.5% |
| Median Gross Rent | $1,694 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 7.3% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Carmichael is about 26% lower than in California. Rent is about 17% lower than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Carmichael, up about 7.6% and 7.3% a year respectively. Home prices are changing faster.
Median rent in Carmichael rose about 78.7% between 2015 and 2024, from $948 to $1,694. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Carmichael.
Buying the median-priced home in Carmichael costs roughly 23.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Carmichael. The price-to-rent ratio in California is about 26.6.
| Metric | Carmichael | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $478,370 | $650,794 | $248,835 |
| Median Household Income | $88,932 | $99,161 | $80,455 |
| Price-to-Income Ratio | 5.4 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Carmichael rose about 29.7%, while median household income rose about 47.2% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Carmichael | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.1% | 51.7% | 58.5% |
| Rental Rate | 42.2% | 40.8% | 31.2% |
| Vacancy Rate | 5.7% | 7.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Carmichael has a homeownership rate of 52.1%, about the same as the California average of 51.7%. Its housing vacancy rate is 5.7%, compared with 7.5% in California.
Housing Stock
| Metric | Carmichael | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1972 | 1975 | 1978 |
| Median Number of Rooms | 5.4 | 5.0 | 5.5 |
The typical housing unit in Carmichael was built around 1972. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Carmichael, CA Housing Compared With Nearby Cities
Carmichael, CA is typical in size for this group, 76,270 residents against a local median of 86,009, so the measures below are close to a like for like comparison. There is no headline here. Every measure below sits within 15% of the median across the nearest cities, which makes Carmichael, CA an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is homeownership, 3% above the local median at 55.3% against 53.5%. Carmichael, CA has the 2nd highest homeownership of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Carmichael, CA | 76,270 | $478,370 #2/4 | $1,694 #2/4 | 55.3% #2/4 |
| North Highlands, CA | 42,311 | $504,292 | $1,647 | 53.5% |
| Arden-Arcade, CA | 92,545 | $472,536 | $1,599 | 45.5% |
| Citrus Heights, CA | 86,009 | $469,723 | $1,833 | 59.1% |
Frequently Asked Questions
Common questions about the housing market in Carmichael, California.
What is the median home price in Carmichael, California?
The median home price in Carmichael, California is $478,370, lower than the California average of $650,794.
What is the average home price in Carmichael, California?
The typical home price in Carmichael, California, reported as the median sale price, is $478,370. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Carmichael, California?
The median gross rent in Carmichael, California is $1,694 per month, lower than the California average of $2,036.
What was the median gross rent in Carmichael in 2020?
In 2020, the median gross rent in Carmichael, California was $1,241 per month.
What is the price-to-rent ratio in Carmichael, California?
The price-to-rent ratio in Carmichael, California is about 23.5, meaning it would take roughly 23.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Carmichael.
Are home prices or rent rising faster in Carmichael, California?
Both home prices and rent are rising in Carmichael, up about 7.6% and 7.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Carmichael, California?
52.1% of households in Carmichael, California own their home, higher than the California average of 51.7%.
What is the vacancy rate in Carmichael, California?
The housing vacancy rate in Carmichael, California is 5.7%, lower than the California average of 7.5%.
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