Top 3 Wealthiest Suburbs in Elk Grove
The first city in California to be incorporated in the 21st century, Elk Grove is a beautiful town in Sacramento County. Sitting just south of the state capital, Elk Grove is part of the Sacramento–Arden-Arcade–Roseville metropolitan area. The city has a total population of almost 179,000 residents. Known for its numerous wineries, wine cellars, and vineyards, Elk Grove is a dignified and secure city and a fantastic home for families or those looking to wind down in a beautiful area.
The Elk Grove Unified School District is one of the fastest growing school districts in the country. Covering over 320 square miles, which is one-third of Sacramento County, the district serves over 65,000 students each year. It is also one of the top employers in the city, second only to Apple Inc. In addition to highly rated public schools, the Elk Grove area has a number of prestigious private schools and universities, such as California State University, California Northstate University College of Pharmacy, and the private six-year Universalist college, Quest Seminary.
As for real estate, Elk Grove is home to some fairly exclusive neighborhoods. The median home price is $660K — this is a 10% increase from 2021. On average, houses are only available for about a week before they’re sold, so buyers need to act fast to get into this market. Overall, Elk Grove ranks highly in safety and quality of life for residents, making it a great investment regardless of budget. While some neighborhoods in the city are more affordable, averaging closer to $500K, a number of suburbs see home values upwards of $1.5M. We’ll get into which suburbs have the most exclusive neighborhoods and luxurious properties.
The rental market in Elk Grove is relatively small, but most rental properties are on the higher end. Only 19% of housing in the city is renter-occupied. However, the average monthly rent is over $2,200. Over 75% of apartments have a rent greater than $2,000, while only 2% have a rent between $1,000 and $1,500. Additionally, the average apartment size is 997 square feet.
Most Expensive Neighborhoods in Elk Grove
1. Grant Line Road
The neighborhood surrounding Grant Line Road has a median home price of $1,573,000. This makes the median home price per square foot $487. Located in the southeast corner of Elk Grove, Grant Line Road contains some of the nicest properties in the city. This is partially due to its excellent location, as Grant Line Road borders a large natural area that encompasses the Cosumnes River. It also contains Derr-Okamoto Park and the Emerald Lakes Golf Course.
The average home price in Sheldon is just over $1M. This brings the median home price per square foot in this area up to $453. Sheldon sits in the northeastern corner of Elk Grove, just west of the Bradley Ranch Winery and Brewery and the Brookside Equestrian Park. Hundreds of impressive estates can be found along the roads of Sheldon Woods, River Oak Estates, and Sunburst Solar Ranchette.
3. Laguna West-Lakeside
This neighborhood on the west side of Elk Grove has a median household income of over $80,000. The median home price is just over $650,000, putting the median home price per square foot at $408. This planned community was designed by Peter Calthorpe specifically to include desirable features such as pedestrian friendly neighborhoods, natural zones, and streets that encourage slow driving.
Get Elk Grove California Property Management
For Elk Grove California Property Management Contact Utopia Management today by calling us at (800) 294-4656 or click here to connect with us online.