Well for those of you familar with the Placer County and El Dorado County real estate markets, this should come as no surprise. El Dorado and Placer County show up as number 5 and 6 on the list of the wealthiest Bay Area counties, (see full list at bottom), trailing behind the established Marin, San Mateo, Contra Costa and Santa Clara Counties.
With income on the rise, we are also watching equity growth fly through the ceiling as well as overall new home sales. In a previous article we reported on the amazing growth record of Lincoln in Placer County, and that is just one of many cities experiencing this real estate boom. Roseville is situated just south of Lincoln, and has had some extremely hot spots over the last couple of years as well.
Bob Dean, executive vice president and area manager for Grubb & Ellis commercial real estate, ran an analysis of businesses around Roseville's bustling Douglas Boulevard and found 27 mortgage companies, 21 law firms and 38 financial service providers in a one-mile radius!
SacBee reports on the economic growth of these two counties in their Striking it Rich article by Dale Kasler. Here are a couple of highlights from that article...
"While statewide income grew by 1.6 percent in 2003, the growth rate was 2.8 percent in El Dorado and 2.2 percent in Placer."
"Placer's median home sold for $459,000 last month, while El Dorado's sold for $432,000, according to Dataquick Information Systems. The statewide median was $421,000."
Source: SacBee
Additional Information:
Median household income of California counties (Graphic)
1. Marin - $44,797
2. San Mateo - $43,369
3. Contra Costa - $42,880
4. Santa Clara - $42,642
5. El Dorado - $41,609
6. Placer - $40,0157. Solano - $38,436
8. Alameda - $38,411
9. San Francisco - $36,354
10. Alpine - $36,124
11. Napa - $35,472
12. Ventura - $35,370
13. Sonoma - $35,346
14. San Benito - $35,059
15. Orange - $34,632
16. Lassen - $34,615
17. Sacramento - $34,087
18. Amador - $33,632
19. Calaveras - $33,453
20. Yolo - $32,806
21. Nevada - $32,682
22. San Diego - $32,410
23. Santa Cruz - $32,002
24. San Luis Obispo - $31,831
25. San Joaquin - $31,804
26. Santa Barbara - $31,311
27. Sierra - $30,309
28. Plumas - $30,306
29. Riverside - $30,227
30. Stanislaus - $29,987
31. San Bernardino - $29,829
32. Monterey - $29,789
33. Tuolumne - $29,122
34. Inyo - $29,120
35. Shasta - $28,984
36. Mono - $28,556
37. Sutter - $28,203
38. Mariposa - $27,984
39. Del Norte - $27,825
40. Los Angeles - $27,746
41. Kern - $27,729
42. Lake - $26,702
43. Yuba - $26,505
44. Butte - $26,205
45. Humboldt - $26,157
46. Fresno - $26,021
47. Mendocino - $26,005
48. Tehama - $25,978
49. Kings - $25,839
50. Modoc - $25,749
51. Madera - $25,718
52. Merced - $25,636
53. Siskiyou - $25,456
54. Trinity - $25,046
55. Glenn - $24,523
56. Colusa - $24,305
57. Tulare - $23,373
58. Imperial - $21,799
