According to The Sacramento Bee, the Apartment List website has released numbers showing two consecutive months of falling rental prices in the Sacramento region. The capital area is still among the most affordable cities to live in California with a median price of $1,210 for a two-bedroom apartment.
Rents for a two-bedroom apartment were up a modest 1.4 percent year over year, growing faster than the nation and state as a whole. Since fewer people move in the winter, one factor in the downward trend could be seasonal and it’s unclear if prices will continue to flatten, said housing economist Chris Salviati with Apartment List.
“That dip is generally a seasonal trend,” Salviati said. “If you look back over the past five years, rents in Sacramento are actually one of the fastest growing in the nation, looking over that period.” Sacramento rents climbed fastest in 2017 because, Salviati says, people are fleeing the high cost of housing in the Bay Area. It’s unclear if the latest data mean the influx has slowed down.
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