In the 3rd Quarter of 2008 Elk Grove single family dwellings have continued to rent out at a strong pace. Elk Grove covers a large area and three zip codes: 95624 (old Elk Grove east of Hiway 99), 95757 and 95758 (Laguna and Laguna West).
Rents in Elk Grove for a three bedroom home ranged in price from $1000-$1800.00. The average was $1368.00 and a total of 63 homes were on the market during our survey day. The underlying price is pretty close to $1.00 a square foot, but does vary based on location and condition of the home.
Rents in Elk Grove for a four or five bedroom home ranged from $1360.00-$1980.00. The average was $1646.00 and a total of 52 such homes were on the market on our survey day. Again, the underlying price is close to $1.00 a square foot.
Keep in mind that the bigger the home the less per square foot in rent. As a landlord you never want to be the most expensive rental in a zip code, that is a recipe for a long vacancy.
If you need help pricing your rental in Elk Grove or anywhere in the greater Sacramento region, give us a call or email.
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