Elk Grove, California Housing Market Prices
Elk Grove 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.
-
Median home price 25% below the California median$485,021
-
Median rent 10% above the California median$2,237
Housing Market Overview
| Metric | Elk Grove | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $485,021 | $650,794 | $248,835 |
| Price Trend (Annual %) | 7.2% | 8.9% | 7.5% |
| Median Gross Rent | $2,237 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Elk Grove is about 25% lower than in California. Rent is about 10% higher 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 Elk Grove, up about 7.2% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Elk Grove rose about 52.6% between 2015 and 2024, from $1,466 to $2,237. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Elk Grove.
Buying the median-priced home in Elk Grove costs roughly 18.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Elk Grove. The price-to-rent ratio in California is about 26.6.
| Metric | Elk Grove | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $485,021 | $650,794 | $248,835 |
| Median Household Income | $124,496 | $99,161 | $80,455 |
| Price-to-Income Ratio | 3.9 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Elk Grove rose about 117.2%, while median household income rose about 49.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Elk Grove | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 71.3% | 51.7% | 58.5% |
| Rental Rate | 26.1% | 40.8% | 31.2% |
| Vacancy Rate | 2.6% | 7.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Elk Grove has a homeownership rate of 71.3%, higher than the California average of 51.7%. Its housing vacancy rate is 2.6%, compared with 7.5% in California.
Housing Stock
| Metric | Elk Grove | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.18 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1998 | 1975 | 1978 |
| Median Number of Rooms | 6.3 | 5.0 | 5.5 |
The typical housing unit in Elk Grove was built around 1998. On average, 3.2 people live in a home with about 6.3 rooms, staying for about 13.0 years on average.
Elk Grove, CA Housing Compared With Nearby Cities
How Elk Grove, CA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Elk Grove, CA | 165,605 | $485,021 #1/2 | $2,237 #1/2 | 73.2% #1/2 |
| Florin, CA | 50,195 | $359,512 | $1,611 | 59.0% |
Frequently Asked Questions
Common questions about the housing market in Elk Grove, California.
What is the median home price in Elk Grove, California?
The median home price in Elk Grove, California is $485,021, lower than the California average of $650,794.
What is the average home price in Elk Grove, California?
The typical home price in Elk Grove, California, reported as the median sale price, is $485,021. 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 Elk Grove, California?
The median gross rent in Elk Grove, California is $2,237 per month, higher than the California average of $2,036.
What was the median gross rent in Elk Grove in 2020?
In 2020, the median gross rent in Elk Grove, California was $1,733 per month.
What is the price-to-rent ratio in Elk Grove, California?
The price-to-rent ratio in Elk Grove, California is about 18.1, meaning it would take roughly 18.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Elk Grove.
Are home prices or rent rising faster in Elk Grove, California?
Both home prices and rent are rising in Elk Grove, up about 7.2% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Elk Grove, California?
71.3% of households in Elk Grove, California own their home, higher than the California average of 51.7%.
What is the vacancy rate in Elk Grove, California?
The housing vacancy rate in Elk Grove, California is 2.6%, lower than the California average of 7.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →