{"id":8240,"date":"2024-08-16T10:09:00","date_gmt":"2024-08-16T10:09:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8240"},"modified":"2025-01-09T10:17:19","modified_gmt":"2025-01-09T10:17:19","slug":"sacramento-multifamily-market-report-july-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/sacramento-multifamily-market-report-july-2024\/","title":{"rendered":"Sacramento Multifamily Market Report \u2013 July 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/sacramento-multifamily-market-report\/\">Sacramento Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<h2>Rent Growth Flat, Deliveries Low<\/h2>\n<p>The Sacramento multifamily market\u2019s performance has been mixed, likely due to economic volatility that continues to impact the metro, according to the latest Yardi Matrix Sacramento multifamily market report. Advertised asking rents remained flat on a T3 basis, to $1,916, 30 basis points lower than the national rate, as per the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>U.S. multifamily market report<\/strong><\/a>. The average overall occupancy rate in stabilized properties was down 10 basis points year-over-year, to 94.7%, although the Lifestyle segment recorded a 30-basis-point appreciation.<\/p>\n<p><iframe id=\"datawrapper-chart-2TUlm\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Sacramento vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/2TUlm\/1\/\" height=\"321\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Employment in Sacramento expanded 2.5% in the 12 months ending in March, adding 32,600 net jobs. The metro\u2019s growth rate was 90 basis points above the national average. Education and health services led gains with 17,900 added positions. The area\u2019s unemployment rate stood at 4.5% as of April, 60 basis points above the U.S. figure. UC Davis Medical Center will boost Sacramento\u2019s economy with its 900,000-square-foot California Tower. The $3.7 billion project will feature a 14-story hospital with 332 inpatient beds. The development is slated for completion in 2030.<\/p>\n<p><iframe id=\"datawrapper-chart-Vu20v\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Sacramento Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/Vu20v\/1\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>The 645 units delivered through May, which account for 0.5% of stock, put the metro below the national rate of completions by 40 basis points. Construction starts also declined from the beginning of the year. Transaction activity remains low, with $36 million<br \/>in assets changing hands, a far cry from the $1 billion-plus that traded in Sacramento in 2021 and 2022.<\/p>\n<p>Read the full Yardi Matrix Sacramento Multifamily Market Report: <a href=\"\/publications\/download\/file\/5349-MatrixMultifamilySacramentoReport-March2024\" rel=\"\"><strong>July 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rent Growth Flat, Deliveries Low The Sacramento multifamily market\u2019s performance has been mixed, likely due to economic volatility that continues to impact the metro, according to the latest Yardi Matrix Sacramento multifamily market report. Advertised asking rents remained flat on a T3 basis, to $1,916, 30 basis points lower than the national rate, as per [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":7702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[],"class_list":["post-8240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends"],"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 Multifamily Market Report \u2013 July 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Population increases coupled with a healthy economy sustained demand in Sacramento, according to Yardi Matrix data.\" \/>\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-multifamily-market-report-july-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sacramento Multifamily Market Report \u2013 July 2024\" \/>\n<meta property=\"og:description\" content=\"Population increases coupled with a healthy economy sustained demand in Sacramento, according to Yardi Matrix data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/sacramento-multifamily-market-report-july-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-16T10:09:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-09T10:17:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Sacramento-iStock-1945130475.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=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Madalina Pojoga\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Sacramento Multifamily Market Report \u2013 July 2024 - 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