RentCafe data shows significant increase in Sacramento rent prices since 2019

New data from RentCafe shows that rent prices in Sacramento ticked up significantly since last January — recording a 5.3% year-over-year increase in local housing costs.

Using figures procured through Yardi Matrix, RentCafe’s average Sacramento apartment rent in January was $1,444. Rents saw a slight increase of .3% since December, but were markedly higher than last year’s monthly cost.

Most Northern California areas saw year-over-year increases, and only Atwater, located just north of Merced, saw a significant decrease in cost. There, rent averaged $1,046, a 1.5% drop since last year.

Meanwhile, prices in the Sacramento metropolitan area remained relatively stable. Elk Grove saw a 1% drop in rent prices since December, reaching an average cost of $1,748. Folsom, where an apartment will cost about $1,870, shed .6% month-over-month as well.

Apartment prices in Fair Oaks increased .6% since last month, reaching an average of $1,440. Rent in Roseville remained flat, but its northerly neighbor Rocklin saw a month-over-month decrease of .7%. There, an apartment goes for $1,699.

Rent in Davis was the costliest in California’s Central Valley, where apartments average $2,194. Madera saw the lowest rents, with an average monthly cost of $953.

Bay Area rents were the priciest in the state and proved one of the highest in the country. San Francisco rent prices — second only to those in Manhattan nationwide — reached $3,700. San Jose saw monthly costs of $2,719, Oakland apartments averaged $2,935.

Nationwide, the average rent was $1,463, up 3% since last January. Sacramento’s average rent compares favorably to Portland, which averages $1,538, but fares worse than Milwaukee’s average of $1,192.

See RentCafe’s full Central Valley report here, and see its national report here.