Rents in the city have increased two months in a row, but Sacramento is still one of the more affordable places to rent in the region and the state, according to a new study.
Apartment List, an online apartment marketplace, tracked recent local real estate data and found that Sacramento rents have been increasing since March, along with state and national rents.
Median rents in the city increased .4 percent in the last month, and 1.7 percent in the last year, according to Apartment List.
California and national rents have followed these trends at a slightly slower rate. Median rents increased statewide by 1.2 percent in the last year, while median rents in the United States have increased 1.5 percent in the same time, according to Apartment List.
The median monthly rent for a two-bedroom apartment in Sacramento was $1,220 in May, compared with $3,100 in San Francisco — the most expensive of California’s major cities — and just $940 in Bakersfield, according to Apartment List.
Sacramento’s median two-bedroom apartment rent is closest to that of Fresno’s, which is slightly lower at $1,040 per month, according to Apartment List.
Of the state’s 10 biggest cities, Sacramento’s rent is the third lowest, above Fresno and Bakersfield, according to Apartment List.
Rent prices in California are increasing the fastest in San Jose, where rents increased 2.3 percent in the last year, according to Apartment List.
Nationally, Sacramento’s median two-bedroom apartment rents are comparable to those in Portland, Ore., which are slightly higher at $1,330, and Las Vegas, which are slightly lower at $1,180, according to Apartment List.
The U.S. median for a two-bedroom apartment is currently $1,190, just below Sacramento’s prices, according to Apartment List.
In the region, Sacramento is still one of the more affordable options. Rents are highest in south Placer County, where a two-bedroom apartment in Roseville costs $1,670 per month and the same in Rocklin costs $1,650, according to Apartment List.
Median rents in Roseville and Rocklin increased more in the last year than anywhere else in the region, with rents in each increasing by 2.8 percent and 2.4 percent respectively, according to Apartment List.
West Sacramento boasts the lowest median rent locally. A two-bedroom apartment fetches a mere $950. Rents in the Yolo County city dropped .6 percent in the last month, according to Apartment List.
Rents in the suburbs around Sacramento are mixed. Rents in Citrus Heights and North Highlands are slightly higher than those in Sacramento, but Fair Oaks, Rancho Cordova and Carmichael offer slightly lower rents, according to Apartment List.
Apartment List’s full study and methodology can be found here.