Surrounding Suburbs, Folsom, El Dorado Hills, Roseville Affected too.
We’ve been experiencing Rental Rate Increases for a long time here in the Sacramento Region. This includes not only Sacramento, but the surrounding communities as well, such as Elk Grove, Roseville, Woodland, Folsom, El Dorado Hills, Lincoln, Fair Oaks, and Carmichael to name a few.
The Sacramento Bee has a story today regarding Rent Rate Increases. They are primarily talking about the Downtown/Midtown area which has experienced a “renaissance” because of the development in and around the Golden One Center.
The Sacramento Midtown Area has been very popular with the younger generation and some seniors because of the proximity to jobs, entertainment and restaurants.
As I have said in the past you almost have to “know somebody inside” to be able to get a decent rental these days.
To give you an idea of how strong the rental market is, we seem to average about 5 applications for every property we advertise.
An example of what I am talking about…? As of today, July 26, 2017, here’s a short list of a couple of Duplex apartments being advertised by our Property Management Company with pending applications we are processing now.
- 6017 Rye, Carmichael, 2 bd/1ba $1,100.00 – 5 applications
- 6610 Summer Rain Way, Citrus Heights, 2 bd/1ba $1,195.00 – 5 applications
- 5945 Moss Creek, Fair Oaks, 2 bd/2ba – $1,350.00 – 4 applications
Note to Duplex Investors or for that matter, any Residential Real Estate Investors from Single Family Homes up to Apartment complexes. You’ll have several applications to rent if you decide to invest in the Sacramento area.
Until they start to build more Apartments and Homes this trend will continue given the great economy we have going at this time.
If you’re thinking of buying/investing in the Sacramento area, please call me at 916-203-1260 or send me a note at favinger@rwnetwork.com and let me help you find the best deal out there today.
If you’re an owner now and thinking of selling, contact me and let’s take a look at your investment property. I can help you get the most out of your investment with some ideas you might not have considered.
In the Mean Time…?
Make it a Great Day…!
Ed Favinger, Broker, CRS, GRI, SFR, CDPE 916-203-1260 favinger@rwnetwork.com
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