Elk Grove, CA—95624
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elk Grove, CA
As of Oct '25, the median home price in Elk Grove, CA is $633,000, with a year-over-year change of -3.3%. This indicates that home prices in Elk Grove, CA are decreasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $633,000 | -3.3% |
| Single Family | $634,000 | -3.5% |
| Condos | $293,000 | -4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $420,000 | -3.4% |
3 Bed | $549,000 | -4.0% |
4 Bed | $653,000 | -3.5% |
| 5 Bed | $737,000 | -3.0% |
% of Housing Stock
Rental Trends — Elk Grove, CA
As of July '25, Rentcast reports the average rent in Elk Grove, CA is $2,760, with a year-over-year rent change of 1.5%. Per bedroom, the median rent as of July '25 in Elk Grove, CA is studios: $1,450, 1-bedrooms: $1,760, 2-bedrooms: $2,070, 3-bedrooms: $2,550, 4-bedrooms: $3,370. The most common rental property sizes in Elk Grove, CA are 2-bedroom and 3-bedroom, accounting for 34.5% and 32.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $2,760 |
| Studio Rent | $1,450 | $1,450 |
| 1 Bed Rent | $1,700 | $1,760 |
| 2 Bed Rent | $2,100 | $2,070 |
| 3 Bed Rent | $2,500 | $2,550 |
| 4 Bed Rent | $2,950 | $3,370 |
% of Rental Stock
Property Listings — Elk Grove, CA
As of Oct '25, Realtor.com reports that the median days on market for a home in Elk Grove, CA is 50. This is a increase of 31.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $671,000 | -5.0% |
Listing Count | 98 | -2.0% |
| Listings as % of Homes | 0.4% | -2.0% |
Days on Market | 50 | 31.0% |
Demographics — Elk Grove, CA
As of the latest ACS Survey released in 2023, Elk Grove, CA has a population of 68,000, which has increased by 3.5% over the past 5 years. Elk Grove, CA is a popular place for families, as children make up 25.1% of the population. The area has a moderately educated workforce, with 33.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 68,000 | 3.5% |
% Under 18 | 25.1% | -1.6% |
% Seniors | 14.4% | 19.0% |
% WFH | 17.1% | 185.0% |
% w/ College Degree | 33.2% | 7.8% |
As of the latest ACS Survey released in 2023, Elk Grove, CA is a predominantly white area, with 37.4% of the population identifying as white. The white population has shrunk by 10.5% in the last 5 years. The second most common race or ethnicity in Elk Grove, CA is asian, making up 28.3% of the population. Foreign-born residents account for 24.6% of the population in Elk Grove, CA, and this percentage has increased by 10.8% 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 | 37.4% | -10.5% |
% Black | 8.8% | 6.0% |
% Hispanic | 16.9% | 1.8% |
% Asian | 28.3% | 11.0% |
% Foreign Born | 24.6% | 10.8% |
Mortgage and Risk — Elk Grove, CA
According to HUD data as of 2023, there were 315 mortgage originations in Elk Grove, CA, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Elk Grove, CA. Investor activity is low, as 4.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 315 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Elk Grove, CA
As of 2024, the percent of homes in Elk Grove, CA under the Section 8 program is 5.4%. 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 Elk Grove, 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 | 266 |
Total Units Section 8 | 255 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $310 | $1,700 | $2,010 |
| 2 Bedroom | $390 | $2,100 | $2,490 |
| 3 Bedroom | $880 | $2,500 | $3,380 |
| 4 Bedroom | $950 | $2,950 | $3,900 |
Affordability — Elk Grove, CA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $633,000 |
| Median Household Income | $121,000 |