Home Values in Auburn, California

Located in Northern California, Auburn is the county seat of Placer County. Its commitment to preserving its Gold Rush history granted it California Historical Landmark status. With the North Fork American River nearby and several parks within city limits, recreational opportunities abound. These are just some of the many reasons that the city remains popular with home buyers.

Homes in the city have an average value of $354,400, which represents an increase of 8.5 percent in the past year. This is the value of properties that are not on the market and those for sale. Next year, prices are expected to increase by 4.5 percent.

The median list price of a home is $425,000, or $208 per square foot, which is higher than the Sacramento Metro price of $349,000, or $185. However, the median sales price is $367,450 or $195 / sq. ft.. The far lower sales price signals that it's currently a buyer's market in the city. The price of rentals may be prompting people to buy their own places. The city's median rent is $1,706 per month, which is higher than the Sacramento Metro price of $1,601, and the US median of $1,337.

The average list of a two-bedroom unit is $170,469, or $187/sq. ft.. Three bedrooms run $467,939 and four bedrooms go for $566,033. About 20 percent of the homes were built during the 1980s, with another 17 percent coming up in the 1970s.

About 43 percent of the listings eventually get a price cut with almost 8 percent selling for below list price. Just under 14 percent of homes in the city have negative equity, compared to the 17 percent average for the US. About 5 percent of owners are delinquent on their mortgages compared to under 7 percent for the country.

Not surprisingly, the higher home prices also indicate higher earning power. Median household income runs $48,999 annually, compared to $47,493 for the state. Most folks earn their leaving while commuting to work. Almost 18 percent, the largest percentage of commuters, take 10 to 14 minutes to get to work.

Another thing that's higher than in the county or state is crime. About 3.32 percent of the population is affected by property crime, such as theft or vandalism. In Placer County, that number drops to 3.96 percent. In California, the figures is 3.17 percent. For violent crime, about 0.5 percent are affected, compared to 0.27 percent in Placer County and 0.53 percent in California.

For more details: PHA Realty

Weston Barnes is a write and an avid reader. When he's not writing about business, marketing, health, pets, or relationships, he's immersed in his latest book.