SACRAMENTO (CBS13) – Does it feel like rent in Stockton and Sacramento has gone up a lot over the last year?
Not only have prices gone up, but Sacramento and Stockton have made the top 10 list of American cities where rent has jumped the most, on a percentage basis.
ApartmentGuide.com looked at U.S. Census Bureau’s 100 most populated cities and compared it to the prices of entry-level apartments from this time last year and found the 10 cities across that nation that had the biggest percentage jump in rent.
Number 10: Sacramento. Between now and this time in 2018, entry-level rents have gone up 10.7 percent. The average cost of entry-level apartments is 1,560.98.
Number two on the list was Stockton. It had a hefty 24.75 percent increase in rent, bringing the average rent in the city up to $1,349.25.
The website blames the increase on the booming tech sector. Despite Stockton being more than an hour drive from Silicon Valley, people who work in the Bay Area but are priced out of the housing market– and don’t mind the commute — are heading inland for housing.