Sacramento Rental Prices Take Largest Jump In Nation, Ahead Of Bay Area Rates
SACRAMENTO (CBS13) — If you're looking for a place to rent in Sacramento, you may have noticed it's not cheap.
Rent is at a record high in the capital city, and it's only going up.
A West Sacramento three-bedroom, two-bathroom home in West Sacramento rented for $1,495 a month in December. Nine months later, it's renting for $1,725.
"Two weeks we rented the same model next door at $1,695, so yes it is going up," said property manager Bill Shower.
He's owned S&S Property management for 25 years selling homes and renting them. He says it's the highest he's seen rentals go so far.
According to Trulia, Sacramento rental prices rose 14.9 percent in the last year, a higher rate than any other city in the country, including San Francisco and Los Angeles.
Shower says there are fewer rentals, so landlords can and are asking for more. If rent becomes more expensive than a mortgage payment, he says people will start buying again and prices will drop.
If you find a rental, it is possible to negotiate with your landlord, but make sure if you're comparing prices to other properties to make sure they are similar.
