Real Estate News

Sacramento rents are up, but aren’t so bad elsewhere in California. Here’s a look at how much

Sacramento apartment rents have increased modestly so far this year, and it remains one of the more affordable Northern California cities — though there are still cheaper options, according to a recent report.

Online apartment listing firm RentCafe analyzed market trends in the 260 largest U.S. cities over the past six months and found that the average monthly cost for Sacramento renters as of June was $1,398, an increase of $33 since the beginning of this year. The city’s month-over-month increase clocked in at 0.8%.

In the suburbs surrounding Sacramento, Carmichael’s average monthly rent was $1,199, Citrus Heights’ average rent was $1,339, Rancho Cordova’s average rent was $1,388, Fair Oaks’ average rent was $1,436, Rocklin’s average rent was $1,698, Elk Grove’s average rent was $1,735, Roseville’s average rent was $1,774 and Folsom’s average rent was $1,846, according to the report.

Rent prices in Roseville are rising quickly, with a month-over-month increase of 3.3%. Elk Grove rents also saw sharp increases in the past month, rising 2.1%, according to RentCafe.

In nearby Yolo County, Davis saw the most significant increase of average rent prices in the Central Valley, rising $156 in six months to reach $2,167, according to RentCafe.

Meanwhile, rent prices in Tracy saw the biggest drop in the Valley, dipping $134 in six months to reach an average of $1,896, according to RentCafe.

In Stockton, housing is more affordable, with a monthly average rent of $1,182 and a month-over-month increase of 1.1%, according to RentCafe.

Modesto is another good option for renters on a budget, with an average rent of $1,215 and a month-over-month increase of 0.1%, according to RentCafe.

The cheapest California city included in RentCafe’s report was Bakersfield, where a month’s rent costs $1,009 on average. Its month-over-month increase was 0.4%.

Fresno was slightly more expensive but still kept costs low, with an average rent of $1,084 and a month-over-month increase of 0.7%, according to RentCafe.

Rent prices in Visalia and Merced both dropped $3 since the beginning of the year, with average costs of $1,119 and $1,043 respectively, according to RentCafe.

Unsurprisingly, the highest rent prices in the state were in the Bay Area. San Francisco’s average monthly rent was $3,697 with a month-over-month increase of 0.8%, while San Jose’s average rent was $2,789 with a month-over-month increase of 1.3%, according to RentCafe.

Nationwide, rent prices rose by 2.6% in the last six months — an increase of $37 — bringing the U.S. average up to $1,465. The country’s least expensive city is Wichita, Kansas, where a month’s rent costs $656, and the most expensive place is Manhattan in New York City, where the monthly average is $4,190, according to the report.

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Vincent Moleski covers business and breaking news for The Bee and is a graduate student in literature at Sacramento State. He was born and raised in Sacramento and previously wrote for the university’s student newspaper, the State Hornet.
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