Rents Contract, Occupancy Holds Firm
Sacramento entered 2026 with mixed multifamily fundamentals, as a supply wave continued to pressure rents even as occupancy held firm, according to the latest Yardi Matrix Sacramento multifamily market report. Average advertised asking rents fell 0.8% year-over-year, to $1,946 in January, while the U.S. rate rose 0.2%. The metro’s occupancy rate for stabilized assets ticked up 10 basis points year-over-year, to 95.2% in December, above the 94.5% U.S. average, as per the national multifamily market report.
Employment growth decelerated to 0.5% year-over-year through September, trailing the U.S. rate of 0.8%. Unemployment closed the year at 4.8%, outperforming the state (5.1%) but lagging the U.S. (4.4%), according to preliminary data from the Bureau of Labor Statistics. The metro added 700 net jobs in the 12 months ending in September, with gains led by education and health services (11,600 jobs), while professional and business services (-6,700) and mining, logging and construction (-3,500) posted the steepest losses. On the development front, Aggie Square’s early traction and the Railyards redevelopment are notable drivers supporting downtown and the innovation economy.
In 2025, developers delivered 5,344 units, which marked a new peak in Sacramento and, as of January, the construction pipeline had 5,040 units underway, 1,986 of which broke ground in 2025. With investment activity rebounding, multifamily sales topped $985 million in 2025, and the average price per unit rose 28.8% year-over-year, to $230,713 in December.
Read the full Yardi Matrix Sacramento Multifamily Market Report: March 2026
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