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Roseville, Rocklin among California's Best Cities for Home Ownership




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In a recent Nerd Wallet report, Rocklin, Folsom, and Roseville, rank 11th through 13th (respectively) among California's Best Cities for Homeownership.

Although California's economy has recovered from the recession, housing is a problem that persists.

The Golden State's housing shortage, coupled with stricter credit standards, has made homes in California among the most expensive in the nation. According to a 2014 report by the California Department of Housing and Community Development, 4 out of 5 of the least affordable U.S. metropolitan areas are in California. As well, the state has the largest share of households that pay more than 50 percent of their income toward housing costs.

Despite high housing costs, California remains a popular place to live with a 34-month population growth of 2.9%, compared with the national average of 2.4%. These conditions mean finding affordable housing in the state is more difficult than ever. NerdWallet, your trusted financial friend, crunched the data and found the top places in California for homeownership. Our analysis answered three main questions:

  1. Are homes available? We looked at an area's homeownership rate to determine the availability of homes. A low homeownership rate is likely a signal of competitive inventory, more options for renters rather than buyers and expensive housing. Areas with a high homeownership rate led to a higher overall score.
  2. Can you afford to live there? We looked at median household income, monthly homeowner costs and median home value to assess affordability and determine whether residents could live comfortably in the area. We used monthly homeowner costs to measure cost of living. Areas with high median incomes and low cost of living scored higher. Are you thinking about buying a home? Learn more about current mortgage rates and mortgage refinancing options in our mortgage guide, as well as whether it's best to rent or buy.
  3. Is the area growing? We measured population growth to ensure that the area is attracting new residents and showing signs of solid growth. This is likely a signal of a robust local economy, which is another attractive characteristic for homebuyers.

For more details on our methodology, please see the section at the end of the report.

Here's what the top places in California all had in common:

  • Californians are comfortable living in suburbs, with only three places in our top 10 located close (under 30 miles) to major cities.
  • Our top locations are all seeing rapid growth in population, and all 10 have seen population increases of at least 5% or more from 2010 to 2012.
  • Homeownership costs take up a large portion of Californians' income, with residents in none of our top 10 cities paying less than a third of their income toward housing costs (this amount is considered the standard of affordability by the Department of Housing and Urban Development).

California's Best Cities for Homeownership

The full report may be accessed at Nerd Wallet.

CHECK Out Rocklin & Roseville Today's Preferred Realtors

 





Placer County News Headlines

Roseville appoints Jim Maccoun next Police ChiefRoseville, Calif., - Roseville City Manager Rob Jensen announced today the appointment of Jim Maccoun as the city's next police chief.

Sierra College Wins $350,000 Makerspace Grant(ROCKLIN, CA) -Through a competitive process, Sierra College was awarded a $350,000 CCC Maker Grant, renewable for a second year

New Construction is Booming: Real Estate Watch Realtor Julie Jalone, of MagnumOne Realty in Roseville, explains why we are seeing so many homes being built and what it is doing to alleviate the housing shortage.

Annual Vic's To Gunther's Ice Cream WalkEveryone's invited to join in the Sacramento Walking Sticks annual Vic's to Gunther's Ice Cream Walk, including the family dog

Annual Fab 40's Run/Walk Benefitting Alzheimer's AssociationSacramento, Calif.,- On Saturday, July 29, East Lawn will host its 10th Annual Fab 40's 5k Run/Walk benefitting the Alzheimer's Association of Northern California

Men's Cross Country Team at WJU Signs ThreeROCKLIN, Calif. - The Warriors' head men's cross country coach, Parker Daniells announced the signing of three incoming freshmen to join in the 2017 season on the course.

Roseville to Host USA Softball Fastpitch ChampionshipRoseville, Calif., - USA Softball of Sacramento and Placer Valley Tourism are teaming up to host the USA Softball Girls Fastpitch 14U Class B Western National Championship

Placer County Sheriff Devon Bell to Run for ElectionRoseville, CA) - Placer County Sheriff Devon Bell recently announced he will run for sheriff in the 2018 election.

Upcoming Fundraiser in Roseville for Malnourished ChildrenROSEVILLE - A local effort to pack hundreds of thousands of meals for malnourished children around the world is holding its annual major fundraiser on Aug. 26

California Fire Updates (7.25.17)California Fire Updates 2017: 6,100+ firefighters battling 11 significant wildfires in California.

Roseville Gas Prices Feel the HeatRoseville road warriors are once again all smiles as gas prices continue to fall in and around Placer County

Kia Sorento delivers considerable versatilityRoseville, CA- Last year's remodeling effort took the Kia Sorento to a higher level and gave it more credibility among a somewhat crowded group of midsize sport utility vehicles.


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