{"id":684,"date":"2021-03-10T11:01:46","date_gmt":"2021-03-10T11:01:46","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=684"},"modified":"2023-03-10T08:12:44","modified_gmt":"2023-03-10T08:12:44","slug":"sacramento-housing-market-trends-winter-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/sacramento-housing-market-trends-winter-2021\/","title":{"rendered":"Sacramento Housing Market Trends &#8211; Winter 2021"},"content":{"rendered":"<h2>Strong Migration Aids Sacramento&#8217;s Multifamily Market<\/h2>\n<p>Sacramento\u2019s multifamily market registered remarkable gains during the pandemic, with demand boosted by strong in-migration. The average rent rose 0.5% on a trailing three-month basis through January to $1,634, while the national rate stayed flat at $1,392. The metro\u2019s notoriously limited housing supply kept the occupancy rate in stabilized properties high, up 100 points year-over-year through December, to 96.8%.<\/p>\n<p>The unemployment rate dropped to 6.7% in November, but December preliminary data pointed to 7.9%. The increase was correlated to a new spike in infections, that prompted Gov. Gavin Newsom to enforce a new set of restrictions. Employment growth in the 12 months ending in November marked a 7.9% contraction of the workforce, 70 basis points below the national rate. Financial activities\u2014the only sector that gained jobs\u2014expanded by 3.8% during the period. Newsom proposed the Equitable Recovery for California\u2019s Business and Jobs budget plan, a $4.5 billion package that would aid the state\u2019s recovery.<\/p>\n<p>2020 marked the best year in stock expansion, with 2,026 units delivered, and in January, 4,701 units were under construction. Meanwhile, $918 million in multifamily assets traded for a price per unit that rose 27.4% to $229,841.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1220-MatrixMultifamilySacramentoReport-Winter2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily Sacramento Report-Winter 2021<\/strong><\/a><\/p>\n\n\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Strong Migration Aids Sacramento&#8217;s Multifamily Market Sacramento\u2019s multifamily market registered remarkable gains during the pandemic, with demand boosted by strong in-migration. The average rent rose 0.5% on a trailing three-month basis through January to $1,634, while the national rate stayed flat at $1,392. The metro\u2019s notoriously limited housing supply kept the occupancy rate in stabilized [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,72],"class_list":["post-684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","tag-sacramento"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sacramento Housing Market Trends - Winter 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Rents rose 0.5% on a trailing three-month basis through January to $1,392, ranking Sacramento second for growth among major U.S. metros.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/sacramento-housing-market-trends-winter-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sacramento Housing Market Trends - Winter 2021\" \/>\n<meta property=\"og:description\" content=\"Rents rose 0.5% on a trailing three-month basis through January to $1,392, ranking Sacramento second for growth among major U.S. metros.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/sacramento-housing-market-trends-winter-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-10T11:01:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:12:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Sacramento-iStock-1276893000.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Sacramento Housing Market Trends - Winter 2021 - Yardi Matrix Blog","description":"Rents rose 0.5% on a trailing three-month basis through January to $1,392, ranking Sacramento second for growth among major U.S. metros.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/sacramento-housing-market-trends-winter-2021\/","og_locale":"en_US","og_type":"article","og_title":"Sacramento Housing Market Trends - Winter 2021","og_description":"Rents rose 0.5% on a trailing three-month basis through January to $1,392, ranking Sacramento second for growth among major U.S. metros.","og_url":"https:\/\/www.yardimatrix.com\/blog\/sacramento-housing-market-trends-winter-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-03-10T11:01:46+00:00","article_modified_time":"2023-03-10T08:12:44+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/Sacramento-iStock-1276893000.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/sacramento-housing-market-trends-winter-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/sacramento-housing-market-trends-winter-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Sacramento Housing Market Trends &#8211; 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