Quick facts: Elk grove, CA

Quick Facts

127.6
Cost of Living
above US average
177,558
Population
16.79
Crime Rate per 1000
below US average
$115,864
Median Income
above US average
$671,950
Median House Price
above US average
$2797.79
Average Rent
above US average
10%
Poverty Rate
below US average
4.4%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $115,864.

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Income Needed to Buy

βœ— Stretch
$211k/year
Based on $671,950 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $211k vs median $115,864
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Income Needed to Rent

⚠ Stretch
$120k/year
Based on $2797.79/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $120k vs median $115,864
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Elk grove, CA

Elk Grove, located just south of Sacramento, California, is a vibrant city that blends suburban living with a rich agricultural history. Established as a small farming community in the 19th century, Elk Grove has evolved into one of the fastest-growing cities in the Sacramento region, known for its family-friendly atmosphere and diverse population. The city offers a variety of parks, recreational facilities, and community events, making it an attractive destination for outdoor enthusiasts. Elk Grove Regional Park features picturesque landscapes, picnic areas, and a pond, while the Elk Grove Historical Society Museum showcases the area’s heritage. Economically, Elk Grove boasts a mix of residential, commercial, and light industrial sectors, contributing to its robust job market. The city is also known for its strong emphasis on education, with several highly-rated public and private schools. The cultural scene thrives with various festivals and farmers' markets, celebrating local produce and crafts. With its convenient access to Sacramento and the scenic beauty of Northern California, Elk Grove is a delightful place to live and visit, offering a balance of urban amenities and a close-knit community feel.

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