The state capital of California is starting to see rents that would fit in around San Francisco or Los Angeles. Although explanations are scant, some are blaming the stagnant multi-family development industry.
Richard Chang tells one of the dominant stories of Sacramento's recovery from the Great Recession: "A healthy job market and population growth are fueling demand, while the supply of rentals remained stagnant as developers shied away from building during the past decade."
Now, reports Chang, "Sacramento’s rents are so high that the capital region is now the fastest-growing rent market in the nation with year-over-year increases of 11 percent, according to Yardi Matrix, the real estate research arm of Santa Barbara software company Yardi Systems. Occupancy rates have hit 96.8 percent."
Sacramento's surging rents are concentrated in the midtown and downtown neighborhoods, according to Change, who also takes a tour of examples of apartment complexes that have been recently renovated and adjusted to the market.
As for why Sacramento has had a hard time developing rental units since the Great Recession, Chang cites Sacramento City Councilmember Steve Hansen, who says that the city's stagnant development market is a result of the end of redevelopment funding from the state.
FULL STORY: They stopped building apartments; now Sacramento-area rents have spiked
Tight For-Sale Market Leads to Record Price Spikes in the Rental Market
A supply-demand imbalance in the for-sale housing market will eventually spill into the rental market.
Maine Legislators, in Search of a Fix for Rising Housing Costs, Consider Zoning Reforms
The housing affordability crisis is a legislative priority in the Pine Tree State.
Land Costs and Housing Costs
One common argument against upzoning is that it increases land costs—but land costs rose in the most restrictive markets as well as the least restrictive ones.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
The 120 Year Old Tiny Home Villages That Sheltered San Francisco’s Earthquake Refugees
More than a century ago, San Francisco mobilized to house thousands of residents displaced by the 1906 earthquake. Could their strategy offer a model for the present?
In Both Crashes and Crime, Public Transportation is Far Safer than Driving
Contrary to popular assumptions, public transportation has far lower crash and crime rates than automobile travel. For safer communities, improve and encourage transit travel.
Report: Zoning Reforms Should Complement Nashville’s Ambitious Transit Plan
Without reform, restrictive zoning codes will limit the impact of the city’s planned transit expansion and could exclude some of the residents who depend on transit the most.
Judge Orders Release of Frozen IRA, IIJA Funding
The decision is a victory for environmental groups who charged that freezing funds for critical infrastructure and disaster response programs caused “real and irreparable harm” to communities.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Clanton & Associates, Inc.
Jessamine County Fiscal Court
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service