Carmichael, CA—95608
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carmichael, CA
As of Oct '25, the median home price in Carmichael, CA is $561,000, with a year-over-year change of -1.9%. This indicates that home prices in Carmichael, CA are decreasing. According to Zillow, the 1-year price projection is -0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $561,000 | -1.9% |
| Single Family | $569,000 | -1.9% |
| Condos | $317,000 | -3.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $403,000 | -1.2% |
3 Bed | $526,000 | -2.2% |
4 Bed | $665,000 | -1.5% |
| 5 Bed | $826,000 | -0.5% |
% of Housing Stock
Rental Trends — Carmichael, CA
As of July '25, Rentcast reports the average rent in Carmichael, CA is $1,760, with a year-over-year rent change of -9.3%. Per bedroom, the median rent as of July '25 in Carmichael, CA is studios: $1,300, 1-bedrooms: $1,450, 2-bedrooms: $1,850, 3-bedrooms: $2,450, 4-bedrooms: $2,720. The most common rental property sizes in Carmichael, CA are 2-bedroom and 1-bedroom, accounting for 43.9% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,680 | $1,760 |
| Studio Rent | $1,300 | $1,300 |
| 1 Bed Rent | $1,450 | $1,450 |
| 2 Bed Rent | $1,800 | $1,850 |
| 3 Bed Rent | $2,350 | $2,450 |
| 4 Bed Rent | $2,900 | $2,720 |
% of Rental Stock
Property Listings — Carmichael, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Carmichael, CA is 58. This is a increase of 52.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $577,000 | -5.0% |
Listing Count | 174 | 23.0% |
| Listings as % of Homes | 0.3% | 23.0% |
Days on Market | 58 | 52.0% |
Demographics — Carmichael, CA
As of the latest ACS Survey released in 2023, Carmichael, CA has a population of 63,100, which has increased by 1.9% over the past 5 years. Carmichael, CA is a moderately popular place for families, as children make up 19.0% of the population. The area has a moderately educated workforce, with 36.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 63,100 | 1.9% |
% Under 18 | 19.0% | -6.9% |
% Seniors | 21.9% | 8.4% |
% WFH | 19.4% | 198.5% |
% w/ College Degree | 36.1% | 3.4% |
As of the latest ACS Survey released in 2023, Carmichael, CA is a predominantly white area, with 64.3% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in Carmichael, CA is hispanic, making up 15.3% of the population. Foreign-born residents account for 17.2% of the population in Carmichael, CA, and this percentage has increased by 24.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 64.3% | -8.4% |
% Black | 6.1% | 27.1% |
% Hispanic | 15.3% | 16.8% |
% Asian | 8.3% | 69.4% |
% Foreign Born | 17.2% | 24.6% |
Mortgage and Risk — Carmichael, CA
According to HUD data as of 2023, there were 647 mortgage originations in Carmichael, CA, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Carmichael, CA. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 647 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Carmichael, CA
As of 2024, the percent of homes in Carmichael, CA under the Section 8 program is 5.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Carmichael, CA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 723 |
Total Units Section 8 | 648 |
% Rentals under Section 8 | 5.1% |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $200 | $1,450 | $1,650 |
| 2 Bedroom | $250 | $1,800 | $2,050 |
| 3 Bedroom | $430 | $2,350 | $2,780 |
| 4 Bedroom | $310 | $2,900 | $3,210 |
Affordability — Carmichael, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $561,000 |
| Median Household Income | $83,600 |