Real Estate News

Half of Sacramento area residents have ‘neighborhood envy’

Most people in the Sacramento area like it here, but half wish they could live in another part of the region including downtown Sacramento, Elk Grove and Roseville, a new survey shows.

Called “neighborhood envy,” the finding was part of a survey conducted by LendingHome, a popular online marketplace for borrowers based in San Francisco.

“Residents were asked, ‘Do you wish you could live somewhere else in the Sacramento area?’ Surprisingly, 50 percent said ‘Yes.’ ” LendingHome said in a news release.

Of that group, 34 percent said they’d like to live in the suburbs such as Roseville or Elk Grove. Another 22 percent said they’d like to move to downtown Sacramento.

The online survey was distributed to 500 Sacramento-area residents whose ages, 21 to 54, made them more likely to buy a home. Homeownership remained a goal for 64 percent of those surveyed, the firm said.

At the start of the survey, respondents were asked to choose the phrase that best described them. Were they “lifers,” who’d lived their whole lives in the Sacramento area, “boomerangs,” who’d moved away and returned, or “transplants,” who’d grown up somewhere else and moved here?

About three-quarters of those who called themselves “boomerangs” were happy about moving back, and 62 percent of “transplants” said they were happy about relocating to the Sacramento region, the survey found. (How “lifers” felt about living in Sacramento wasn’t mentioned in LendingHome’s news release.)

Most of those surveyed thought home prices would continue to climb.

The median price of homes in Sacramento County in June was approaching $350,000, more than double the median price in early 2012 when the market hit bottom, according to the Sacramento Association of Realtors.

Half of those surveyed thought prices were too high and that the market could be heading toward another crash, LendingHome reported. About 40 percent, however, thought prices were about right because the Sacramento area had grown more desirable and recovered from last decade’s subprime mortgage crisis and housing market collapse.


Hudson Sangree: 916-321-1191, @hudson_sangree

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