These Sacramento suburbs have the highest rents in the region. Is yours on the list?
Sacramento’s wave of skyrocketing rent isn’t just an urban core issue.
The three most expensive cities in the region to rent a two-bedroom apartment are all suburbs: Folsom, Rocklin and Roseville.
Rocklin has had the steepest rent increases recently, according to data from national tracking firm Apartment List. A typical two-bedroom unit in the Placer County suburb cost $2,155 per month in December. That’s a jump of more than 17% from the previous year and an increase of 41% since 2017.
Folsom is the most expensive city in the region for renters, with the typical two-bedroom rent running just north of $2,200 per month in December. Roseville’s rents average a little below $2,000 per month for two-bedroom residences.
Median apartment rents in the Sacramento metropolitan area rose about 16% during 2021, the fastest rate of growth in years, according to Apartment List data. The typical rent for a two-bedroom apartment in the four-county region in December 2021 was $1,836, up from $1,589 in December 2020.
The typical rent for a two-bedroom apartment in the city of Sacramento is about $1,840, up $258, or 16%, from a year earlier.
The trend is partially driven by an influx of people from more expensive places such as the Bay Area. The region has also not added enough new rental units to keep prices down.
Sacramento was the 18th-most expensive rental market in America in December, with rents slightly higher than the New York City metropolitan area (which includes much more than just Manhattan).
Looking back further, Sacramento metro rents rose about 46% from January 2017 through December 2021.
There is some promising news in the data for renters: All of last year’s rent increases took place between January and September. Typical rents in Sacramento were flat from September through December, according to Apartment List.
This story was originally published February 3, 2022 at 9:25 AM.