The final Yardi Matrix monthly report on multifamily rent trends for 2018 showed Sacramento is significantly below its previous pace as the fastest-growing rental market in the country.
Sacramento has experienced decelerating but steady rent growth, due to a continued influx of new residents from pricier Bay Area markets and a limited multifamily supply. The metro’s average rent rose to $1,454 as of October, slightly above the national rate. Despite becoming less affordable, Sacramento remains an accessible living option among the region’s metro areas. The market’s strong appeal to investors has maintained a high transaction volume, which is expected to surpass the 2017 level.