Quick facts: Folsom, CA

Quick Facts

120.5
Cost of Living
above US average
83,269
Population
18.84
Crime Rate per 1000
below US average
$134,935
Median Income
above US average
$730,995
Median House Price
above US average
$2497.42
Average Rent
above US average
7%
Poverty Rate
below US average
3.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $134,935.

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Income Needed to Buy

βœ— Stretch
$229k/year
Based on $730,995 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $229k vs median $134,935
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Income Needed to Rent

βœ“ Affordable
$107k/year
Based on $2497.42/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($134,935) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Folsom, CA

Folsom, California, is a vibrant city located in Sacramento County, known for its rich history, scenic landscapes, and community-oriented atmosphere. Nestled near the Sierra Nevada foothills, Folsom is famous for the Folsom State Prison, highlighted in Johnny Cash's iconic song. The city combines a charming historic district with modern amenities, featuring the picturesque Folsom Lake, which offers numerous recreational activities like boating, fishing, and hiking. The Folsom Historic District showcases charming shops, restaurants, and notable landmarks, including the Folsom Powerhouse State Historic Park. Residents enjoy well-planned neighborhoods and a variety of parks, making it an ideal place for families and outdoor enthusiasts. Folsom is also home to the Folsom Premium Outlets, drawing shoppers looking for bargains. Alongside excellent schools and a growing economy, the city's proximity to Sacramento provides easy access to urban culture and employment opportunities. With its balanced lifestyle, Folsom stands out as a desirable place to live, work, and play in Northern California.

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