{"id":8686,"date":"2024-12-23T08:21:00","date_gmt":"2024-12-23T08:21:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8686"},"modified":"2025-04-15T08:30:22","modified_gmt":"2025-04-15T08:30:22","slug":"sacramento-multifamily-market-report-december-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/sacramento-multifamily-market-report-december-2024\/","title":{"rendered":"Sacramento Multifamily Market Report \u2013 December 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<hr \/>\n<h2>Market Performance Shows Momentum<\/h2>\n<p>Sacramento displayed improving fundamentals in 2024, exceeding national averages, according to the latest Yardi Matrix Sacramento multifamily market report. Average advertised asking rents rose 1.6% year-over-year through October, to $1,954, almost double the 0.9% U.S. rate. The occupancy rate in stabilized properties increased a strong 70 basis points year-over-year, to 95.3%, in October. Meanwhile, the average U.S. occupancy figure slid 10 basis points, to 94.7%, as report in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily market report<\/strong><\/a>.<\/p>\n<p><iframe id=\"datawrapper-chart-tcb3T\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Sacramento vs. National Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/tcb3T\/1\/\" height=\"328\" 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 growth ebbed and flowed in 2024 in Sacramento, but stayed above the 1.4% U.S. average, at 2.4% as of August. The metro gained 22,500 net jobs in the 12 months ending in August. Even so, most sectors lost jobs, with the steepest contractions recorded in leisure and hospitality (-2,100 jobs), information (-1,100) and manufacturing (-1,000). Education and health services (17,200 jobs) and government (7,000 jobs) led job gains. Unemployment stood at 4.7% in September, outperforming the 5.3% state rate, but trailed the U.S. (4.1%). One notable project underway in Sacramento is The Railyards, which this year had a senior housing component delivered. The 244-acre project also includes a<br \/>Major League Soccer stadium that is slated to open in 2027.<\/p>\n<p><iframe id=\"datawrapper-chart-l9SCC\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Sacramento Employment Share by Sector  \" src=\"https:\/\/datawrapper.dwcdn.net\/l9SCC\/1\/\" height=\"433\" 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>Developers completed 2,333 units in the area in 2024 through October and had an additional 8,534 apartments under construction. During this period, investors traded $250 million in multifamily assets, surpassing last year\u2019s total. The price per unit increased 12.6% year-to-date, to $194,100.<\/p>\n<p>Read the full Yardi Matrix Sacramento Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6647-MatrixMultifamilySacramentoReport-December2024\" rel=\"\"><strong>December 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Market Performance Shows Momentum Sacramento displayed improving fundamentals in 2024, exceeding national averages, according to the latest Yardi Matrix Sacramento multifamily market report. Average advertised asking rents rose 1.6% year-over-year through October, to $1,954, almost double the 0.9% U.S. rate. The occupancy rate in stabilized properties increased a strong 70 basis points year-over-year, to 95.3%, [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[511,72],"class_list":["post-8686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2024","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 Multifamily Market Report \u2013 December 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Sacramento\u2019s advertised asking rents rose 1.6 percent YoY through October to $1,954, surpassing the 0.9 percent national increase.\" \/>\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-december-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 December 2024\" \/>\n<meta property=\"og:description\" content=\"Sacramento\u2019s advertised asking rents rose 1.6 percent YoY through October to $1,954, surpassing the 0.9 percent national increase.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/sacramento-multifamily-market-report-december-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-23T08:21:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-15T08:30:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Sacramento-iStock-2168521700.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 December 2024 - 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