Elk Grove, CA
Sacramento County · Pop. 179,144
Ranked #194 of 243 cities
28Crisis
Median Home Price
🏠$550K
4.0% YoY
Median Rent
🔑$2,000
3.0% YoY
Median Income
💰$88K
Rent Burden
📊29.5%
% of income to rent
Income to Buy
🏦$158K
annual income needed
Income to Rent
📝$80K
annual income needed
Price-to-Income
⚖️6.3x
Homeownership
🏡68.0%
Rent vs. Buy
Buy
$2,927/mo
Est. mortgage (7%, 20% down)
Need $158K/yr income
Rent
$2,000/mo
Median rent
Need $80K/yr income
How Elk Grove Compares
| Metric | Elk Grove | California | National |
|---|---|---|---|
| Home Price | $550K | $726K | $410K |
| Rent | $2,000 | $1,992 | $1,500 |
| Income | $88K | $96K | $75K |
| Rent Burden | 29.5% | 40.5% | 30.0% |
Key Takeaways
- • Home prices in Elk Grove are 34% higher than the national average.
- • Rent is 33% higher than the national average.
- • You need an income of $158K to comfortably buy a home here.
- • The homeownership rate is 68.0%, compared to 65.0% nationally.