Fast-Rising Sacramento Apartment Rent Has Couple Rethinking Downtown Sacramento Home
SACRAMENTO (CBS13) — A new study shows Sacramento has some of the fastest rising apartment rents around the country.
Inside one of Sacramento's hottest rental properties, one couple is wondering if they will be forced out.
Up on the seventh floor of the high-rise apartment building, Rene and Yvette Rodriguez are trying something different.
Their son went to college, so they moved from the suburbs to a 900-square-foot downtown Sacramento loft. They wanted to be part of the new downtown revival and live near the new Sacramento Kings arena
"That was a huge factor, our initial plan was coming here, trying to get a place close to the arena, so that when it opened up we could go to the games without parking," Rene said.
Now everything is changing. Their lease is about to come up and they may not be able to afford the new rates, which they fear could be 20 percent higher.
A new study shows Sacramento's apartment rents are among the fastest rising in the country, now averaging five percent higher than last year.
With rents in San Francisco now topping a staggering $3,000 a month, it's putting price pressure on Sacramento.