Photo: Utilizer · CC BY-SA 3.0Even on the area’s higher pay, Walnut Creek costs more to live in than 96% of U.S. towns
It ranks #558 of 846 in California for affordability. Up 1.3% in a year, 30% above the California typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the San Francisco-Oakland-Fremont, CA metro area ($136K). How TownRatings grades cost of living
The grade measures what housing costs against what households in the area earn. Walnut Creek’s area earns well above the typical U.S. town ($136K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 32% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 51% of renters.
In dollars
- $991Ktypical home, 30% above the California typical homeZillow, September 2026
- $3,470a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 7.8 yrsof area income buys the typical home; the typical U.S. town: 3.3$136K, San Francisco-area income
- 24%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 51%of renters pay 30%+ of income for housing; across California: 55%Census 2020–24
- 32%of owners do; the typical U.S. town: 20%Census 2020–24
The short version on homes in Walnut Creek
Most new homes are apartments and condos
Of the 1,405 homes permitted in Walnut Creek’s past 10 years, 88% were in buildings with two or more homes, not single-family houses. New homes ↓
A median income doesn’t stretch to the towns next door
At Walnut Creek’s median income, the calculator’s budget of about $521K covers neither the typical home here ($991K) nor in any of the seven neighboring towns. The least expensive is Contra Costa Centre at $733K. Can I afford it? ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for May 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Walnut Creek’s grade
Measured against what households in the area earn, Walnut Creek is more affordable than 4% of U.S. towns, #558 of 846 in California. The four inputs sit close together, so no single cost explains the grade.
Values have lagged California: the typical Walnut Creek home is up 7.7% in five years, against 13.3% statewide (Zillow).
Up 7.7% in five years
Slower than California (13.3%).
Show as a table
| January | Walnut Creek | California |
|---|---|---|
| 2017 | $681,000 | $451,000 |
| 2018 | $733,000 | $499,000 |
| 2019 | $757,000 | $537,000 |
| 2020 | $762,000 | $548,000 |
| 2021 | $838,000 | $604,000 |
| 2022 | $946,000 | $700,000 |
| 2023 | $976,000 | $723,000 |
| 2024 | $995,000 | $754,000 |
| 2025 | $1,007,000 | $778,000 |
| 2026 | $985,000 | $763,000 |
| September 2026 | $991,000 | $762,000 |
A typical Walnut Creek home worth $666K in October 2016 is worth about $991K 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 2.8 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, May 2026.
A typical home costs 7.8 years of area income
The calculator starts from the area income the grade uses. Switch to Walnut Creek’s own median, or type yours.
That’s $445K short of a typical Walnut Creek home.
A two-bedroom rents for about $3,470 a month here, $2,290 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Walnut Creek’s typical property tax (0.69% 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 $3,470
Renters already here pay a median of $2,680, 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 (Oakland-Fremont, 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.
15 new homes permitted in 2025
Builders were permitted 15 new homes in Walnut Creek in 2025, all single-family houses, worth about $2 million to build. That's 0.2 per 1,000 residents, slower than across California (2.7). Over the past 10 years, Walnut Creek has permitted 1,405 homes in all.
Between the 2010 and 2020 censuses, Walnut Creek gained 5,954 residents while 1,840 new homes were permitted: about 3.2 new residents per new home, about the same as across California (2.7).
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 4 | 4 | 0 | $590,000 |
| 2025 | 15 | 15 | 0 | $2 million |
| 2024 | 24 | 24 | 0 | $8 million |
| 2023 | 15 | 15 | 0 | $2.1 million |
| 2022 | 51 | 3 | 48 | $13.6 million |
| 2021 | 83 | 6 | 77 | $27.8 million |
| 2020 | 210 | 21 | 189 | $51.4 million |
| 2019 | 379 | 17 | 362 | $58.5 million |
| 2018 | 309 | 27 | 282 | $22.6 million |
| 2017 | 118 | 37 | 81 | $33.9 million |
| 2016 | 201 | 5 | 196 | $25.8 million |
| 2015 | 70 | 30 | 40 | $19.4 million |
| 2014 | 325 | 14 | 311 | $73.6 million |
| 2013 | 36 | 20 | 16 | $8.4 million |
| 2012 | 339 | 15 | 324 | $34.4 million |
| 2011 | 61 | 8 | 53 | $14.1 million |
| 2010 | 2 | 2 | 0 | $944,000 |
| 2009 | 8 | 2 | 6 | $2.6 million |
| 2008 | 95 | 4 | 91 | $14.4 million |
| 2007 | 57 | 17 | 40 | $14.8 million |
| 2006 | 289 | 38 | 251 | $52.1 million |
| 2005 | 98 | 53 | 45 | $19.8 million |
| 2004 | 54 | 27 | 27 | $8 million |
| 2003 | 76 | 52 | 24 | $15.8 million |
| 2002 | 150 | 12 | 138 | $11.8 million |
| 2001 | 34 | 31 | 3 | $10.8 million |
| 2000 | 116 | 98 | 18 | $30.3 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
High tax bills, but a low tax rate
The median bill is $7,283 (California: $5,124), because homes cost more. As a share of value it’s 0.69% 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+”.
Walnut Creek vs. its neighbors
Of the 3 towns here with a Zillow value, Walnut Creek has the 2nd-lowest. Reliez Valley and North Gate and Acalanes Ridge and Saranap and Contra Costa Centre 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 |
|---|---|---|---|---|---|
| Walnut Creek | D− | $991K | $1.1M | 0.69% | $3,470 |
| Saranap | D | — | $1.5M | 0.69%+ | $2,990 |
| Acalanes Ridge | D− | — | $1.6M | 0.54% | $3,250 |
| Contra Costa Centre | D− | — | $733K | 0.89% | $3,340 |
| North Gate | – | — | $1.7M | 0.40% | $3,880 |
| Alamo | D− | $2.5M | $2.0M | 0.50%+ | $3,550 |
| Pleasant Hill | D− | $973K | $1.1M | 0.71% | $3,130 |
| Reliez Valley | D− | — | $1.7M | 0.57%+ | $3,900 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures. “+”: the Census reports the tax bill only as $10,000 or more, so the rate is at least that. “—” under Cost: not graded (too little Census data, or under 1,000 residents).
Questions about the cost of living in Walnut Creek
Is Walnut Creek expensive to live in?
Measured against what households in the area earn, Walnut Creek costs more than 96% of U.S. towns: a D− for cost of living, #558 of 846 in California. The typical home costs 7.8 years of the median household income of the San Francisco-Oakland-Fremont, CA metro area ($136K).
How much does a house cost in Walnut Creek?
About $991K, Zillow’s typical value for September 2026, up 1.3% in a year. The California typical home is $762K.
What salary do you need to live in Walnut Creek?
To buy the typical home with 20% down at 6.3%, about $247,000 a year, keeping the payment (about $5,760 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $139,000.
How much is rent in Walnut Creek?
HUD puts a two-bedroom at about $3,470 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $2,680 (Census 2020–24).
What are property taxes in Walnut Creek?
The median bill is $7,283 a year, 0.69% of the median home value (California: $5,124, 0.70%), from the Census 2020–24.
Are home prices in Walnut Creek going up?
Yes: up 1.3% in the past year and 7.7% in five years, against 13.3% across California (Zillow).
Neighbors talk housing
What Walnut Creek 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, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits 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.