Sacramento Fastest Growing Rental Market

[Tim Kunz]

I'm sure people have come across these articles, just looking for others take on them

Sacramento Rental Market Growth

1) I can't find another site to substantiate this data, I believe the Yardi Matrix is a fairly trustworthy data source though, have others witnessed this first hand as a Sacramento landlord or found other sources to substantiate this?

2) How far do you see our median rent rising before it tops off?

3) Do you see the passage of Senate Bill 1069 having any substantial effects on the market?

[Penny Clark]

@Tim Kunz, As long as there is a limited number of available units in a particular area rents will at least stay steady. However, ultimately, renters will only pay so much in particular areas. I had one client who insisted on setting his rental price at least 20 percent above the comps in a C area simply because he thought he could get it. He had put in new, updated appliances, flooring and some trim moulding. It stayed on market for 20 days before he dropped some in price. 

To your other question, I love the idea of allowing homeowners to build in-law quarters on their parcels. Lack of more affordable housing is what is driving the groups advocating for rent control and mandatory acceptance of Section 8 applicants. Any bill that seeks to provide a solution to ease the housing crunch and deter these groups from getting their way has my vote!