Sacramento Multifamily Report – July 2026
Several metrics outpace national averages.
Sacramento multifamily fundamentals displayed a spring pickup, primarily in asking rents, but year-over-year performance remained in the red. Average advertised asking rents rose 0.4 percent, on a trailing three-month basis through May, to $1,961, but declined 0.5 percent year-over-year. Meanwhile, the U.S. average rose 0.2 percent, to $1,767. Sacramento’s occupancy rate in stabilized assets slid 40 basis points year-over-year, to 94.8 percent as of April.
Sacramento job gains improved to 0.7 percent through February, outperforming the U.S. rate, which slid 0.1 percent. Area unemployment fell to 4.5 percent as of April, below California’s 5.3 percent but above the 4.3 percent national average. The metro added 10,300 net jobs in the 12 months ending in February, with education and health services accounting for most of the upside. Losses in government and mining, logging and construction limited broader momentum. The health-care and innovation focus was reinforced by the February topping out of UC Davis Health’s $3.7 billion California Tower and the April launch of the Aggie Venture Accelerator at Aggie Square.
Developers completed 816 units in 2026 through May, with 5,385 units underway and the active pipeline split between fully affordable and Lifestyle properties. Multifamily investment reached $250 million this year through May, while the average price per unit fell 19.0 percent year-to-date, to $183,711. Nationally, the average price per unit declined 7.6 percent, to $185,821.
