Leasing Season Thaws Area Fundamentals
Sacramento multifamily fundamentals displayed a spring pickup, primarily in asking rents, but year-over-year performance remained in the red, according to the latest Yardi Matrix Sacramento multifamily market report. Average advertised asking rents rose 0.4%, on a trailing three-month basis through May, to $1,961, but declined 0.5% year-over-year. Meanwhile, the U.S. average rose 0.2%, to $1,767, as per the national multifamily market report. Sacramento’s occupancy rate in stabilized assets slid 40 basis points year-over-year, to 94.8% as of April.
Sacramento job gains improved to 0.7% through February, outperforming the U.S. rate, which slid 0.1%. Area unemployment fell to 4.5% as of April, below California’s 5.3% but above the4.3% national average. The metro added 10,300 net jobs in the 12 months ending in February, with education and health services accounting for most of the upside. Losses in government and mining, logging and construction limited broader momentum. The health-care and innovation focus was reinforced by the February topping out of UC Davis Health’s $3.7 billion California Tower and the April launch of the Aggie Venture Accelerator at Aggie Square.
Developers completed 816 units in 2026 through May, with 5,385 units underway and the active pipeline split between fully affordable and Lifestyle properties. Multifamily investment reached $250 million this year through May, while the average price per unit fell 19.0% year-to-date, to $183,711. Nationally, the average price per unit declined 7.6%, to $185,821.
Read the full Yardi Matrix Sacramento Multifamily Market Report: July 2026
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