Matrix Multifamily Sacramento Report-March 2022 March 24, 2022

California’s Capital Slow to Start 2022

Following a decade of fast-paced improvement, Sacramento rents inched up 0.1 percent on a T3 basis as of January, to an average asking rate of $1,874. The Renter-by-Necessity segment drove the market, leading rent gains, occupancy growth and sales activity. Job growth was slow—up 3.8% YoY through November, trailing the U.S. overall.