Even on the area’s higher pay, Carmichael costs more to live in than 89% of U.S. towns
It ranks #306 of 846 in California for affordability. About the same as a year ago, 28% below the California typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Sacramento-Roseville-Folsom, CA metro area ($97K). How TownRatings grades cost of living
The grade measures what housing costs against what households in the area earn. Carmichael’s area earns well above the typical U.S. town ($97K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 22% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 59% of renters.
In dollars
- $550Ktypical home, 28% below the California typical homeZillow, September 2026
- $2,210a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 6.0 yrsof area income buys the typical home; the typical U.S. town: 3.3$97K, Sacramento-area income
- 21%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 59%of renters pay 30%+ of income for housing; across California: 55%Census 2020–24
- 22%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Carmichael?
Read from the numbers below. The page puts what stands out first.
What’s behind Carmichael’s grade
Measured against what households in the area earn, Carmichael is more affordable than 11% of U.S. towns, #306 of 846 in California. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Values have lagged California: the typical Carmichael home is up 5.7% in five years, against 13.3% statewide (Zillow).
Up 5.7% in five years
Slower than California (13.3%).
Show as a table
| January | Carmichael | California |
|---|---|---|
| 2017 | $357,000 | $451,000 |
| 2018 | $383,000 | $499,000 |
| 2019 | $402,000 | $537,000 |
| 2020 | $419,000 | $548,000 |
| 2021 | $466,000 | $604,000 |
| 2022 | $533,000 | $700,000 |
| 2023 | $531,000 | $723,000 |
| 2024 | $546,000 | $754,000 |
| 2025 | $561,000 | $778,000 |
| 2026 | $552,000 | $763,000 |
| September 2026 | $550,000 | $762,000 |
A typical Carmichael home worth $348K in October 2016 is worth about $550K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A seller's market
Supply is tight — about 2.3 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Under ~4 months of supply favors sellers; over ~6 favors buyers.
Redfin Data Center, all residential sales, September 2026.
A typical home costs 6.0 years of area income
The calculator starts from the area income the grade uses. Switch to Carmichael’s own median, or type yours.
That’s $159K short of a typical Carmichael home.
A two-bedroom rents for about $2,210 a month here, $970 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Carmichael’s typical property tax (0.65% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $2,210
Renters already here pay a median of $1,702, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Sacramento--Roseville--Arden-Arcade, CA HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Property tax runs below the California norm
The median bill is $3,784 (California: $5,124), 0.65% of a home’s value a year, against 0.70% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Carmichael vs. its neighbors
Of the 5 towns here with a Zillow value, Carmichael has the 4th-lowest. Arden-Arcade and Foothill Farms and North Highlands have no Zillow value, so they are in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Carmichael | D | $550K | $580K | 0.65% | $2,210 |
| Citrus Heights | C− | $469K | $455K | 0.64% | $2,310 |
| North Highlands | C | — | $368K | 0.55% | $2,100 |
| Rancho Cordova | D | $529K | $478K | 0.81% | $2,940 |
| Arden-Arcade | D | — | $560K | 0.67% | $2,200 |
| La Riviera | C− | $467K | $459K | 0.71% | $2,240 |
| Foothill Farms | C− | — | $414K | 0.53% | $2,080 |
| Fair Oaks | D | $612K | $683K | 0.72% | $2,480 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Carmichael
Is Carmichael expensive to live in?
Measured against what households in the area earn, Carmichael costs more than 89% of U.S. towns: a D for cost of living, #306 of 846 in California. The typical home costs 6.0 years of the median household income of the Sacramento-Roseville-Folsom, CA metro area ($97K).
How much does a house cost in Carmichael?
About $550K, Zillow’s typical value for September 2026, up 0.4% in a year. The California typical home is $762K.
What salary do you need to live in Carmichael?
To buy the typical home with 20% down at 6.3%, about $136,000 a year, keeping the payment (about $3,180 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $88,000.
How much is rent in Carmichael?
HUD puts a two-bedroom at about $2,210 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,702 (Census 2020–24).
What are property taxes in Carmichael?
The median bill is $3,784 a year, 0.65% of the median home value (California: $5,124, 0.70%), from the Census 2020–24.
Are home prices in Carmichael going up?
Barely: up 0.4% in the past year and 5.7% in five years, against 13.3% across California (Zillow).
Neighbors talk housing
What Carmichael buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.