Elk Grove, California

In the City of Elk Grove California, $430,424 is the house median worth. It’s a sizzling hot market with the value of houses having risen 9.4 percent in the last year. There has been the prediction made that the worth of houses will in the next year increase by 6.1 percent.

$214 is the per square foot list cost median in Elk Grove. This is less than the metro area of Sacramento average which is $234 per square foot list cost.

In the city of Elk Grove, $430,000 is the house cost median of houses listed presently. When it comes to houses that have been sold, $416,700 is the house cost median.

In Elk Grove, the rent cost median is $1,895. The metro area of Sacramento has a lower rent cost median which is $1,800.

Foreclosures are a concern economically when it comes to ownership of homes. This is because they effect the value of homes. As the rate of foreclosures increases, the worth of homes for a particular locale decreases.

When it comes to the city of Elk Grove, the foreclosure rate is 0.8 houses being foreclosed for every 10,000 houses. The Sacramento Metro area has a higher foreclosure rate of 0.9 houses foreclosed for every 10,000 houses. The United States has a foreclosure rate of 1.6, which is quite a bit higher.

When a home owner experiences a foreclosure, there is a first step in the foreclosure process. That first step is a mortgage delinquency. What does it mean when a owner of a house experiences mortgage delinquency? It means that the owner of the house does not come through on making a payment on their mortgage.

0.9 percent of homeowners have a delinquent mortgage in Elk Grove California. Our nation has a higher percent of home owners having a delinquent mortgage. It’s 1.6 percent.

There was a recession in 2008 that caused a big downturn in the housing market. The value of houses fell a greater amount than 20 percent in the United States. This recession caused a lot of homeowners to be underwater on their mortgages.

7.6 percent is the percentage of owners of houses in Elk Grove who are underwater on their mortgages. The metro area of Sacramento has a lower underwater rate of 7.1 percent.

The median household income is $79,051 in Elk Grove, California.