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Rental Market Growth Passes Pre-Recession Levels

As of December 2017, Sacramento’s annual rent growth was 6.2%, while the national average was 2.2%, as rents have risen every quarter for the past five-plus years, making it one of the fastest growing US cities.

Sacramento multifamily The Falls at Arden was built in 1986 and is currently at approximately 95% occupancy.

SACRAMENTO—The urban core is going through an unprecedented transformation and is one of the fastest growing areas in the country. As of December 2017, Sacramento’s annual rent growth was 6.2%, while the national average was 2.2%. Rents have risen every quarter for the past five-plus years, driving Sacramento’s rental market well past its pre-recessionary levels, according to Cushman & Wakefield.

Capitalizing on that growth pattern was Demmon Partners, which recently purchased a 272-unit apartment community, The Falls at Arden. FPA Multifamily sold the property located on 9.991 acres at 2345 Northrop Ave. for $46 million.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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