Sacramento Multifamily Report – March 2026
Deliveries hit a peak in California's capital.
Sacramento entered 2026 with mixed multifamily fundamentals, as a supply wave continued to pressure rents even as occupancy held firm. Average advertised asking rents fell 0.8 percent year-over-year, to $1,946 in January, while the U.S. rate rose 0.2 percent. The metro’s occupancy rate for stabilized assets ticked up 10 basis points year-over-year, to 95.2 percent in December, above the 94.5 percent U.S. average.
Employment growth decelerated to 0.5 percent year-over-year through September, trailing the U.S. rate of 0.8 percent. Unemployment closed the year at 4.8 percent, outperforming the state (5.1 percent) but lagging the U.S. (4.4 percent), according to preliminary data from the Bureau of Labor Statistics. The metro added 700 net jobs in the 12 months ending in September, with gains led by education and health services (11,600 jobs), while professional and business services (-6,700) and mining, logging and construction (-3,500) posted the steepest losses. On the development front, Aggie Square’s early traction and the Railyards redevelopment are notable drivers supporting downtown and the innovation economy.
In 2025, developers delivered 5,344 units, which marked a new peak in Sacramento and, as of January, the construction pipeline had 5,040 units underway, 1,986 of which broke ground in 2025. With investment activity rebounding, multifamily sales topped $985 million in 2025, and the average price per unit rose 28.8 percent year-over-year, to $230,713 in December.
