Sacramento Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for Sacramento, CA. Currently, the overall median rent in the city stands at $1,652, after rising 0.5% last month. Prices remain down 1.1% 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 up 0.5% month-over-month and down 1.1% year-over-year

The median rent in Sacramento rose by 0.5% over the course of April, and has now decreased by a total of 1.1% over the past 12 months. Sacramento’s rent growth over the past year has is similar to both the state (-0.9%) and national averages (-0.8%).

Sacramento rent growth in 2024 pacing above last year

Four months into the year, rents in Sacramento have risen 0.7%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had decreased 0.3%.

April rent growth in Sacramento ranked #44 among large U.S. cities

Sacramento rents went up 0.5% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #44. Similar monthly rent growth took place in Seattle, WA (0.6%) and Indianapolis, IN (0.5%).

Sacramento is the #35 most expensive large city in the U.S., with a median rent of $1,652

Citywide, the median rent currently stands at $1,355 for a 1-bedroom apartment and $1,712 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,652. That ranks #35 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Sacramento is 18.3% higher than the national, and is similar to the prices you would find in Chandler, AZ ($1,654) and Tacoma, WA ($1,626).

Sacramento rents are 5.1% lower than the metro-wide median

If we expand our view to the wider Sacramento metro area, the median rent is $1,740 meaning that the median price in Sacramento proper ($1,652) is 5.1% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 0.4%, above 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 $2,433. Sacramento is the metro’s most affordable city, with a median rent of $1,652. The metro's fastest annual rent growth is occurring in Folsom (3.1%) while the slowest is in Sacramento (-1.1%).

You can also use the map below to explore the latest rent trends in the Sacramento metropolitan area.