Sacramento, CA Rental Market Trends
Sacramento Rent Report: November 2024
Welcome to the Apartment List November 2024 Rent Report for Sacramento, CA. Currently, the overall median rent in the city stands at $1,702, after falling 0.5% last month. Prices remain up 2.1% year-over-year. Read on to learn more about what’s been happening in the Sacramento rental market and how it compares to trends throughout the broader Sacramento metro area and the nation as a whole.
Sacramento rents are down 0.5% month-over-month and up 2.1% year-over-year
The median rent in Sacramento fell by 0.5% over the course of October, and has now increased by a total of 2.1% over the past 12 months. Sacramento’s rent growth over the past year has has outpaced both state (-0.2%) and national (-0.7%) averages.
Sacramento rent growth in 2024 pacing above last year
Ten months into the year, rents in Sacramento have risen 3.9%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to October 2023 rents had decreased 0.4%.
October rent growth in Sacramento ranked #39 among large U.S. cities
Sacramento rents went down 0.5% in the past month, compared to the national rate of -0.7%. Among the nation's 100 largest cities, this ranks #39. Similar monthly rent growth took place in Spring Valley, NV (-0.5%) and Long Beach, CA (-0.5%).
Sacramento is the #28 most expensive large city in the U.S., with a median rent of $1,702
Citywide, the median rent currently stands at $1,396 for a 1-bedroom apartment and $1,764 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,702. That ranks #28 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,225 for a 1-bedroom, $1,380 for a 2-bedroom, and $1,394 overall. The median rent in Sacramento is 22.1% higher than the national, and is similar to the prices you would find in Scottsdale, AZ ($1,718) and Aurora, CO ($1,696).
Sacramento rents are 4.1% lower than the metro-wide median
If we expand our view to the wider Sacramento metro area, the median rent is $1,775 meaning that the median price in Sacramento proper ($1,702) is 4.1% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 1.3%, below the rate of rent growth within just the city.
The table below shows the latest rent stats for 5 cities in the Sacramento metro area that are included in our database. Among them, Rocklin is currently the most expensive, with a median rent of $2,494. Citrus Heights is the metro’s most affordable city, with a median rent of $1,691. The metro's fastest annual rent growth is occurring in Roseville (2.2%) while the slowest is in Rocklin (1.0%).
You can also use the map below to explore the latest rent trends in the Sacramento metropolitan area.
Methodology
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
Data Access
Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.
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