In Q4 2024, Sacramento's rental market showed positive trends, with increases in listing counts and rental prices. Despite a slight uptick in days on market for both single-family and multifamily homes, the market remains competitive, especially with a significant rise in concessions. The multifamily market, in particular, saw a substantial increase in listings and rents, reflecting ongoing demand.
We asked property managers in the Sacramento area for insights into the market.
Key Takeaway: Sacramento’s rental market is generally stable, with 72% of property managers expecting rents to remain the same over the next six months.
Data Summary:
Data Summary:
Deeper Diver: Sacramento’s rental market reflects overall stability, with 72% of property managers expecting rents to remain unchanged over the next six months. However, 22% anticipate rent increases, suggesting moderate optimism in certain areas or property types. Leasing activity is relatively steady, with 59% of property managers reporting the same number of applications, while 18% are seeing more demand, signaling a small increase in interest. Despite this, 23% are experiencing fewer applications, which could indicate some weakening in competition for available properties.
Key Takeaway: Concessions in Sacramento increased significantly in Q4 2024, reaching 42%, far above the national average of 28%, which reflects the competitive nature of the market.
Data Summary:
Deeper Dive: Sacramento experienced a notable rise in concessions, with 42% of listings offering incentives in Q4 2024. This increase is a sharp rise from the 33% in Q3 2024 and highlights a more competitive market where landlords are offering deals to attract tenants. The national average for concessions in Q4 2024 was 28%, showing that Sacramento’s market is significantly more concession-heavy, especially in multifamily units, which may indicate that landlords are trying to remain competitive in a saturated market.
Key Takeaway: While Sacramento's days on market increased slightly in Q4 2024, it remained in line with national averages, with single-family properties taking less time to rent.
Data Summary:
Deeper Dive: Sacramento's multifamily properties took slightly longer to lease in Q4 2024, where properties stayed on the market for 26 days on average. While single-family homes had an average of 21 days on market, it was still less than national range. The increased days on market may suggest slight competition or slower demand, particularly for multifamily units.
Key Takeaway: Rent prices in Sacramento saw steady increases across the board, with the highest increases in the three-bedroom and multifamily markets by Q4 2024.
Data Summary:
Deeper Dive: Sacramento's rental market saw steady rent increases in Q4 2024. The one-, and two-bedroom markets saw modest growth, while three-bedroom and multifamily markets experienced strong growth, with rents reaching $2,033 and $1,810, respectively. The single-family rental market remained steady at $1,850 in Q4, showing stability.
Key Takeaway: Sacramento’s rental market saw significant growth across all property types by Q4 2024, with multifamily, one-, and two-bedroom properties experiencing the largest increases.
Data Summary:
Deeper Dive: Sacramento saw significant growth in listings by Q4 2024, especially in multifamily properties and one- and two-bedroom units. The multifamily market saw the largest growth at 13.8%, indicating strong demand. Single-family homes also grew, though at a more moderate pace of 3.2%. The overall trend shows a competitive rental market in Sacramento, with more properties available to meet the growing demand.
Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Rental Beast listing data covers a range of rental property types and owner types operating within the long-term rental market (generally considered to be leases with a minimum of three months). Single-family rentals (SFR) are considered to be properties with 4 or fewer units. Multifamily (MF) is more than 4 doors. Unless otherwise noted, our analysis uses the Sacramento-Roseville-Folsom, CA, metropolitan statistical area (MSA) as the geographical unit.
Unique listings counts are based on rentals that were on-market at any point during the stated period. Rents are calculated based on these listings. Days on market (DOM) and concession analysis are based on these listings, with some data sources excluded due to DOM and concession info being unavailable or deemed to be unreliable. Concessions are incentives that entice renters to sign a lease (e.g., one month free, a gift card, etc.).
Our sentiment survey is based on phone conversations during Q4 2024 with rental building and community managers and property managers. Questions and answer choices:
DISCLAIMER. This report attempts to provide reliable and useful information; however, there is no guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Our analysis uses MSA as the geographical unit and is not reflective of all-U.S. measures. Information from this document may be used with proper attribution.©2025 by Rental Beast
