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On October 20, Auburn weighed sending two major planning documents and their environmental reviews to the City Council. Together, the plans would shape where and how new homes get built in the city for roughly the next two decades.
At 6.95%, the payment on a median-priced Auburn home eats 45.7% of local median income — and this month's rate jump added $133 a month.
Homes in the Placer County city sold in 24 days over the three months ending August, a full 12 days quicker than a year earlier, as sales volume climbed.
The typical Auburn rent reached its highest level on record this summer, though the year-over-year gain was modest and kept households just below the rent-burden threshold.
The typical Auburn rent set a fresh record at midyear, though the year-over-year gain remained modest and left the typical household just under the rent-burden threshold.
The median sale price rose 3.8% over the past year, yet the price buyers paid per square foot fell more than 6%, hinting at a shift toward larger homes.
The typical Auburn asking rent sits just $4 above where it stood last spring, a rare pocket of stability in a region where most markets saw stronger gains.
A shift toward larger homes pulled Auburn's per-square-foot price down nearly 9% year-over-year, even as the headline median rose to $669,599.
A 0.35-point jump in 30-year rates lifts the monthly payment on a typical Auburn home to 51.1% of local median income.
Zillow data shows Auburn's median rent at $1,963 sits well below the cost of buying, even as year-over-year rent growth has nearly flatlined.