Sacramento's rental market is cooling off with a decline in rent over the last 6 months.
Apartment List, national rental analyst, has reported this week that the typical rent in Sacramento has remained consistently flat over the past six months, and is one of 10 metro areas in the nation seeing either no growth in rents or slight declines in housing. Apartment List reports that typical rent in the region was up about 12% in the past year, also in in line with new data from RentHub, which reports the median rent in the Sacramento metropolitan region was up 13% in March over the previous year. Some Sacramento communities are seeing significant jumps in the rent median, including suburban areas of eastern Sacramento County and southern Placer County.
According to Apartment List, median rent for a one-bedroom unit in Sacramento is $1,403 and is $1,839 for a two-bedroom unit. Once among the most turbulent rental markets in the nation, the growth in rent in Sacramento over the past year was lower than both the California and national averages, according to Apartment List.