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Study Shows More Sacramentans Living in Apartments

 
Study Shows More Sacramentans Living in Apartments
Posted Tuesday, July 8th 2014 @ 8am  by KFBK News - Mike Simpson

Month to month? Long-term lease? A lot of folks are living in apartments these days.

Sacramento saw its apartment occupancy rise to 96 percent during the second quarter, a 16 percent jump over the same time last year.

That's the largest increase seen nationwide by research firm Axiometrics.

Their VP tells The Business Journal there's no obvious reason for the uptick, but a smaller supply means rising rents -- 6.5 percent year-over-year, or the fifth strongest in the nation.

Drive the city's core and you'll see construction underway, but a lot of those units may not hit the market for another six months or a year.

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