Rents have increased Over the past year, rents for single-family homes have increased in excess of 10 percent in some areas of the tri-county region. Rents in Sacramento specifically are up 7.4% this year compared with 2016. Projections show rents will continue to surge with the Sacramento area being one of the top three areas of the nation to feel the effects. Behind San Francisco and Los Angeles, Sacramento is drawing in those searching for rentals.
Renters are attracted “California is still attracting high-income people, who are creating an enormous amount of wealth…” says David Shulman, a senior economist for the Anderson Forecast from the University of California, Los Angeles. Sacramento region is feeling this draw. Due to the exorbitantly high rents and the job growth slowdown in the Bay Area, renters are relocating to the valley in droves.
Investments make sense For more than 40 years, California has provided outsized wealth growth for real estate investors. Many factors support this idea, none more than the population increase projection during the next few decades. This along with property appreciation, tax benefits and cash flow income, investing in rental opportunities can be extremely rewarding.
We are a Top Producing Real Estate Team where much of our business is with landlords buying and selling properties. Let us help find profitable rentals to add to your portfolio.
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