The pandemic had an impact on rent prices in major cities and neighborhoods across the U.S. To quantify the impact, we’re focusing attention on some of the major cities and neighborhoods in the U.S. We will be presenting our findings in a series of year-over-year neighborhood snapshots.
The subject of today’s snapshot is Sacramento, CA. Based on our analysis, Sacramento year-over-year average rents have increased across one, two, and three-bedroom units.
Our standard City analysis uses a 12-month “LookBack” to establish an average baseline rent. The 12-month LookBack analyzes the rent data from the last 12-months, and for this analysis, the rent data included would be from May 1, 2020 – May 1, 2021.
The results from the 12-month LookBack analysis are presented in the table below:
As the table shows, 1BR units increased by 6% from last year or $79 more. While the 2BR increased by 11% or $166 more, and the 3BR units increased their rents by 8% or $154 more. As demonstrated by the table, year-over-year performance increased across all rental units in Sacramento, CA.
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This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.