A study that looks at home ownership for those under 35 years of age, shows that Elk Grove has the second highest rate of ownership for that age group. Just over 60% of the homes in Elk Grove are owned by those under 35 or “millennials” as they are known as.
The study looked at over 200 cities nationwide. The number one city was Sioux Falls, South Dakota. Other California cities included Bakersfield at #3, and Roseville at #4. The median value for home prices in Elk Grove is just over $350,000, making it more affordable than other similar cities in the area such as Folsom, Roseville and Rocklin.
The full study can be found at https://smartasset.com/mortgage/where-are-millennials-buying-homes-2017-edition