Sactoe is number #1 for rent increase. Sj valley #2 (Sacramento: for sale, real estate)

[Flovis]

Rents in Sacramento are skyrocketing | The Sacramento Bee

Sactoe has caught up to the inland empire in rent prices. Could the central coast be the next area it catches?

Sj valley is still very affordable, but for how much longer?

[davidt1]

What is being rented? A house, apartment, condo?

[Flovis]

Originally Posted by davidt1

What is being rented? A house, apartment, condo?

My phone browser won't let me cut/paste for some reason, so just read the article, it mentions it.

I believe its all housing.

[davidt1]

Originally Posted by Flovis

My phone browser won't let me cut/paste for some reason, so just read the article, it mentions it.

I believe its all housing.

This is what I got:

But the average, calculated by assessing rental housing with 50 units or more, provides a snapshot on how the market has changed year by year. Here’s the full ranking of California’s most expensive markets, followed by the most affordable.

So it's apartment rental? How big is a unit? How many rooms? What does $1,364 get me in Sacramento?

[Flovis]

9.9 jump in rent from 2016 to 2017 in sac
This year is expected to have another big jump.


Sj valley was up 6.1 in the same time period.
5.6 SFV
5.2 IE

[GSR13]

Ahh, the delectable effects of rampant foreign real estate investing in the Bay Area. Thank you, China

[RosieSD]

Originally Posted by davidt1

This is what I got:



So it's apartment rental? How big is a unit? How many rooms? What does $1,364 get me in Sacramento?

Good question. A lot of these articles about housing prices use a median for all types of rentals, or a median for all types of houses sold.

What's more helpful, I think, is a break down of medians by type and size.

Another caveat is that most of these "reports" are based on a single month's data, or at most a year-to-year comparison between months (i.e., May 2016 and May 2017). Real estate prices can fluxuate month to month, so we need to think of these as snapshots which may not tell us the whole story about what's happening.

I'll see what I can dig up for this discussion about Sac.

By the way, it looks like the report the article is about was from this company: Yardi Matrix. Near as I can tell with a quick look at their website, they're a company that provides IT consulting services to real estate companies and investors.

[RosieSD]

Couldn't find any more detail on the Yardi Matrix page that you didn't have to pay for, but here's what Trulia's latest data on Sacramento shows (data from July 17):

Overall median rent in Sacramento as of July 17 (based on previous 30 days): $1700

1 bedroom median rent in currently: $995 (note: median was $1500 in January)

2 bedroom median rent in currently: $1500 (note: median has been as low as $1300 as recently as March)

3 bedroom median rent in currently: $1695 (note: median has been as low as $1500 several months in the past year)

4 bedroom median rent currently: $1995 (note: median was $1695 in December 2016)

Trulia's July 17 report is based on 1179 rentals in the last month. That's down slightly from 1230 rentals in May.

https://www.trulia.com/real_estate/S...market-trends/

Obviously, Trulia data has its shortcomings, and I'm not sure why there is the discrepancy between Yardi Matrix's report and Trulia.

This is only for rentals within the city limits, not outlying areas. It could be that Yardi Matrix data includes the entire metro region - that could account for the discrepancy.

Just another data point for discussion.

[RosieSD]

Since the topic is Sacramento real estate prices, here's Trulia's data for home purchases:

Median price all properties sold April 13 - July 12 2017: $293,750, up 7.8% over same period last year

By home size:

1 bedroom - median price $169,000, up 40.8% y-to-y
2 bedroom - median price $215,250, up 12%
3 bedroom - median price $268,000, up 8.4% y-to-y
4 bedroom - median price $340,000, up 7.9% y-to-y

Again, this is only for sales within Sac's city limits, not outlying areas.

[Flovis]

Thank you for the detective work, Rosie. I wish I could rep you

Well, it looks like 2016 was the year sac real estate went crazy. Next few years are going to be fun to watch.