Cost of Living and Buying a Home in Granite Bay, CA

Granite Bay, California, is an affluent community nestled between Roseville and Folsom Lake and is considered one of the Sacramento area’s best-kept secrets.

The city dates back to the early 1850s, when gold miners settled here and called it “Granite Bar,” deriving its name from the granite that was quarried from the banks of the bay to be used for the construction of the Folsom Dam. 

Residential development started in the 1950s, and since then, Granite Bay has been known for its excellent location (less than 30 miles to downtown Sacramento), A+ schools, gated communities, quality of life, low crime rate, and beautiful natural landscape. It has also attracted celebrities as residents, including Eddie Murphy and various Sacramento Kings players. 

Read on to learn what you need to know if you’re considering moving to Granite Bay, as well as the cost of living here.

Granite Bay Stats

According to Niche.com, Granite Bay, California, is rated as the #3 Best Place to Raise a Family in Placer County. It has a population of 23,183, a high-end median home value of $794,000, and an affluent median household income of $143,401.

The city also boasts a top-rated public school district and several nearby private schools, which also attracts many upscale homebuyers. Granite Bay has great elementary schools, middle schools, and high schools.

Things to Do in Granite Bay CA

Granite Bay has something for everyone, whether you’re looking for proximity to shopping, dining, or outdoor activities.

One of the biggest draws of living in Granite Bay is that it’s so close to Folsom Lake, which offers a sandy beach, a roped-off swimming area, and lifeguards, making it a popular destination for residents.

There’s also the Granite Bay Golf Club, which offers an 18-hole golf course, driving range, athletic facilities, a fitness center, and dining. Members can also take advantage of the club’s Juniors programs, which is enticing for families.

Granite Bay also has convenient shopping, including Quarry Ponds and the Country Gables Shopping Center. 

As for dining options, there is no shortage of wonderful restaurants in Granite Bay. Whether you’re looking for date-night spots or family-friendly restaurants, you’ll find them here. 

For example, Farmhaus is an American eatery, great for taking the whole family, as diners enjoy its eclectic menu and outdoor dining on the patio. Hawks offers an upscale American menu, including small plates, and is perfect for couples.

The Breakdown of Buying a Home in Granite Bay, CA

The Granite Bay community is filled with high-end, luxury homes but also has plenty of character mixed in. It serves as the main entrance to Folsom Lake, featuring top-notch schools, restaurants, and entertainment. 

Aaron and Jennifer of New Way Mortgage hit on the highlights of Granite Bay, including one very memorable home, on our YouTube channel here: 

Granite Bay Real Estate Market 

If you’re thinking of moving to Granite Bay CA it’s essential to understand that most of the listings are on the higher end of the price range, including both move-in-ready homes and complete remodels. 

When looking at homes for sale in Granite Bay, you’ll notice that the entry price is at about $1 million. You may see a small number of homes listed in the mid-$700Ks to $800K range, but those are primarily new-build homes that have been placed very close to one another, which can compromise your privacy.

For the most part, when looking to buy a home in Granite Bay, you’ll find that the majority of properties fall in the ballpark of $2 million to $3 million and are either move-in ready or need a bit of upgrading, as many of these houses were built in the ’80s and ’90s. 

For more affordability but nice-sized lots, you could look for homes available in the Douglas Ranch neighborhood, where the median home price is $1.75 million.

On the downside, the inventory in Granite Bay is minimal. Many people looking to purchase in the Sacramento area may look at Granite Bay at first, but are then disappointed by the lack of inventory and end up choosing to buy in another area close by.

Even with the high home prices, properties in Granite Bay are flying off the market fast. There’s less than a one-month supply, which means that all the homes available today will likely be sold within a month. 

Get the real scoop on the Granite Bay real estate market in this video, where Aaron and Jennifer explore the various types of listings, inventory available, and the price range to expect:

How Much Does It Cost to Buy a Home in Granite Bay, CA? 

One of the decisions you’ll face when looking for a home in Granite Bay, California, is how move-in-ready you want your new home to be. This area is primarily made up of higher-end homes, with some that are turnkey and some that might need updating. 

Aaron and Jennifer break down the numbers on a $2 million listing in Granite Bay’s Los Lagos neighborhood in this video. Watch to get an idea of what your total monthly housing costs will run you. 

(Spoiler: You’re looking at about $10K a month when you figure in property taxes, homeowners insurance, and so on.)

Granite Bay Home Financing

If you’re purchasing a home in Granite Bay, you’ll likely need a jumbo or super jumbo loan, which provide homebuyers high-end financing that a traditional loan cannot. You should know, though, that with a jumbo mortgage you’ll get great rates, even on a luxury home purchase. 

Contact the strategic team at New Way Mortgage to explore your home loan options at 916-465-6639.