The City of Rocklin, California proudly calls itself "A Family Community". Lodged between the Sacramento Valley and the Sierra Nevada mountains, Rocklin is a vibrant residential community that saw its hopeful beginnings during the California Gold Rush in the early 1850s. After searching and mining for gold in Sacramento and the Sierra Nevada goldfields, the 49ers arrived in Rocklin looking for a fortune and a fresh start. They found both. Rocklin's early settlers saw a great business opportunity in the abundant granite in the area. They also took notice of the quiet beauty of the rolling hills which offer panoramic views of the Sierra Nevada. The settlers found something more precious than gold: they saw the promise of a great future.
More than a century and a half later, Rocklin real estate once again shows a bright future. Just like during the Gold Rush, Rocklin's current fortune is also precious. The new fortune in Rocklin can be found on the value of its real estate. The expectations for the Rocklin real estate market are exciting, even during these turbulent economic times. While many real estate markets across the country are struggling with rising inventories of unsold homes and falling median prices, the current situation in Rocklin is upbeat and promising.
The reasons for the positive outlook of Rocklin real estate are numerous. Rocklin is one of the communities that form part of the Greater Sacramento metropolitan area, which encompasses major cities within the neighboring counties of Placer, Yolo, Sacramento, and El Dorado. In terms of California's real estate and economy, this metropolitan area anchors the Capital Region. Recent reports for the Capital Region show that 3,922 homes were sold in June 2010. In Sacramento County, recorded home sales were 2,278 followed by Placer County with 768. In comparison to a year ago, home sales in Sacramento were almost flat, while sales in Placer County increased by 28.4%. Within Placer County, Rockville saw more home sales than any other city except neighboring Roseville.
According to the California Association of Realtors, statewide home sales and median home prices have enjoyed modest gains since 2007 despite unfavorable economic conditions. Homes in the Sacramento area have appreciated 17.3% since their trough (bottom) price in April 2009. While overall home prices in California are sharply lower than their peaks in 2006 and 2007, the situation is clearly improving. And while not all areas in the state are recovering, real estate markets in Rocklin and the Capital Region are contributing to the improvement of California's economy.
From September 2009 to June 2010, 66% of all real estate transfers in Rocklin consisted of homes sold for gain. This is an important statistic that helps in forecasting future home values. According to online real estate information service Zillow, the value of Rocklin homes for sale has seen a steady increase since February 2010. It is estimated that future increases in home sales will be fueled by affordability.
A house is deemed affordable when a family earning the median income calculated by the US Census Bureau can afford to live in a median home in their neighborhood. The National Association of Realtors frequently releases a Housing Affordability Index that evaluates the financial ability of a typical American family to purchase a median-priced home. For this index, a value greater than 100 indicates greater affordability. In June of 2010, California's Housing Affordability Index was 135. According to data provided by the City of Rocklin, the average household income for a typical family is $97,761. In June 2010, the median price of Rocklin homes for sale was $250,000. Based on these observations, it is clear that a great price and value can be easily found in Rocklin real estate.
Affordability and the promise of future home appreciation are not the only factors that make Rocklin real estate attractive. As a community, Rocklin offers many advantages to its residents. Home buyers looking for a great place to call home will be pleased by Rocklin's charm, stability, and prosperity. The city has enjoyed a steady 6% annual population growth since the year 2000. The median household income is the highest in the state, and the unemployment rate is lower than both the state and national averages. The median age of the population is 35, a clear indication of a young community on the rise.
Rocklin is also a great place to raise a family. In terms of safety, Rocklin's crime rate index is among the lowest in Placer County and in California. The Rocklin Unified School District is ranked number one in Placer County. In 2009, the California Department of Education announced that the Academic Performance Index of Rocklin's Granite Oaks Middle School was one of the highest in the state. Two institutions of higher learning serve Rocklin and the surrounding communities: Sierra College and William Jessup University. The University of California Davis, California State University, and University of Southern California have regional campuses in nearby Sacramento. More than 35% of adults in Rocklin are college graduates.
Other quality of life factors that make Rocklin real estate an attractive investment include: easy access to local and regional hospital and clinics, great weather, recreational amenities such as parks and golf courses, and proximity to California's state capital in Sacramento. The sum of all advantages of living in Rocklin will ensure that its real estate expectations for the future remain bright.