Sacramento Real Estate Market: Prices | Trends | Forecast 2022

Sacramento Housing Market Report

The Sacramento housing market report for June has been updated in this article. Realtors in Sacramento predict that home prices will continue to rise this year. Nearly 11.0 percent combined sales and price increase is projected in the Sacramento–Roseville–Arden-Arcade, Calif., metro area in 2022. According to Realtor.com, the Sacramento metro region is ranked #48 among the top 100 housing markets in the United States for 2022.

The market performed really well in the last year owing to a rush of buyers fleeing the ultra-expensive Bay Area in search of more reasonably priced homes. Sacramento home price has been forecasted to grow by 5% and home sales are expected to grow by 6% year-over-year in 2022. Tight supply and strong demand are boosting home prices in the Sacramento housing market making it strongly skewed to sellers.

In June 2022, the median home price of existing single-family homes in Sacramento County increased by 6.7% to $560,000 while sales decreased by 24.3% on a year-over-year basis, according to the most recent report released by the California Association of Realtors. Due to the short supply of available properties, Sacramento is going to continue feeling a lot of pressure on the listings in the form of multiple offers from buyers this year as well.

This has led to Sacramento being a sellers’ real estate market, forcing buyers into fierce competition with one another. According to C.A.R., the unsold inventory in the county is 2.3 months. It shows the amount of time (in months) it would take for the current rate of sales to deplete the total active listings.

Sacramento Home Prices Rise Again

In June 2022, the median list price of homes in Sacramento County was $549,900, trending up 14.5% year-over-year (source: Realtor.com). The median listing price per square foot was $339. The median sale price was $543,500. Sacramento is a seller's real estate market which means that more people are looking to buy than there are homes available. A seller's market arises when demand exceeds supply.

Sellers that are just getting into the market are seeing they can set their asking price a little higher than what they may have expected because inventory is so low and the buyer pool is still growing. Ideally, a buyer would prefer a sale to list price ratio that’s closer to 90% and a seller would always prefer scenarios that can yield a ratio of 100% or higher. In Sacramento, the Sale-to-List Price Ratio of 101.2% shows that sellers have managed to hold good leverage in these negotiations in the past month.

Below is the latest monthly report of the Sacramento housing market released by the Sacramento Association of REALTORS®. The report shows key housing metrics of Sacramento County and the City of West Sacramento for June 2022.

Home Sales Decline Sharply in Sacramento

• June ended with 1,310 sales, down 2.6% from the 1,345 sales in May.
• In comparison to a year ago (1,723), the current figure represents a decrease of 24 percent.
• 151 (11.5% percent) of the 1,310 sales this month involved cash financing.
• 918 (70.1 percent) involved conventional financing.
• 147 (11.2 percent) involved FHA financing.
• 56 (4.3 percent) involved VA financing.
• 38 (2.9 percent) involved other types of financing.

Sacramento Home Prices & Demand Remain Moderate

• The median sales price decreased by 2.6% from $575,500 to $560,000.
• This is a 7.7 percent increase over June 2021's median price of $520,000.
• The Average Price/SqFt of all homes sold dropped from $370 to $362.
• The Median DOM (days on market) increased from 7 to 8.
• The average DOM increased from 13 to 14.
• 90.2% of homes were on the market for 30 days or less
• 98% of homes were on the market for 60 days or less.

Housing Supply in Sacramento Continues to Increase

• Between May and June 2022, the Active Listing Inventory increased by 21.6 percent, from 1,840 to 2,237 units.
• Compared with June 2021 (1,297), inventory is up 72.5%.
• Months of Inventory increased from 1.4 Months to 1.7 Months.
• It is the amount of time (in months) it would take to deplete the total active listing inventory at the current rate of sales.

Real Estate Foreclosures in Sacramento County

Here are some foreclosure statistics of the Sacramento real estate market. The number of new foreclosure filings in the Sacramento real estate market has maintained a steady downward trend since the last recession. However, the pandemic has caused a reversal in foreclosure trends. Data by Sacrealtor.org shows that the number of REO sales (single-family homes) in June 2022 was 1 (0.1% of total sales). This is a drop of 66.7% from last year. The number of Short Sales was 0.

2022 Sacramento Housing Market Forecast

What are the Sacramento real estate market predictions for 2022 & 2023? Is the Sacramento housing market shaping up to continue the trend of the last few years as one of the hottest markets in California? We have already mentioned above that Sacramento is predicted to be reasonably well in 2022. The combined home price and sales growth are expected to be 11.0% in the houisng market of Sacramento–Roseville–Arden-Arcade, Calif.

Let us also look at the price trends recorded by Zillow over the past few years. Since the last decade (July 2012), the typical home value in Sacramento County has appreciated by nearly 210% (Zillow Home Value Index). ZHVI reflects the typical value for homes in the 35th to 65th percentile range. Currently, the typical value of homes in Sacramento is $573,853. Over the past year alone, the Sacramento home values have gone up by 18.6% due to robust housing demand and low mortgage rates.

• Sacramento–Roseville–Arden-Arcade Metro home values have gone up 18.8% over the past year (current value = $626,326).
• According to Zillow's forecast, Sacramento home prices will rise 7.6% by June 2023.
• Sacramento County home values have gone up 18.6% over the past year and will continue to rise at a much slower rate in the next twelve months.
• Sacramento City home values have gone up 18.1% over the past year (current value = $521,288).
• Roseville home values have gone up 20.5% over the past year (current value = $699,758).
• Arden-Arcade home values have gone up 16.3% over the past year (current value = $552,078).

Here is the graphical representation of historical Sacramento house prices for the past decade.

The demand outpaces the supply in this region. In the last 10 years, Sacramento has experienced some of the highest home appreciation rates of any community in the nation. NeighborhoodScout's data shows that Sacramento real estate appreciated 198.83% over the last ten years, which is an average annual home appreciation rate of 11.57%. This puts Sacramento in the top 10% nationally for real estate appreciation.

In the latest quarter, Sacramento's real estate appreciation rate was 2.00%, which annualizes to a rate of 8.25%. The significant supply-and-demand imbalance is the reason that Sacramento remains one of the hottest real estate markets in 2022. In a balanced real estate market, it would take about five to six months for the supply to dwindle to zero. In terms of months of supply, the Sacramento housing market can become a buyer’s real estate market if the supply increases to more than five months of inventory.

And that’s not going to happen. This region is very much skewed to sellers due to a persistent imbalance in supply and demand. Due to pent-up demand and diminishing housing inventory home prices in the area will likely continue rising over the coming months. Sacramento’s population has grown steadily over the past few years.

A lot of Bay Area residents are now eyeing markets like Sacramento and Fresno. The main reason is that it's more affordable than expensive coastal markets in California. According to the U.S. Census Bureau, Sacramento’s population grew by around 10% from 2010 to 2019. This trend of migration will continue to fuel housing demand within the region.

For buyers in Sacramento County, mortgage rates are rising. Therefore, it is better for them to enter the market now and scoop up their favorite deals. Whether you’re looking to buy or sell, timing your local market is an important part of real estate investment.

Real estate market forecasts given in this article are just an educated guess and should not be considered financial advice. Real estate prices are deeply cyclical and much of it is dependent on factors you can’t control. Many variables could potentially impact the value of a home in Sacramento in 2022 (or any other market) such as big changes in the distressed, new-construction, or luxury home segments. There are also a wide variety of economic and political factors that can and do impact real estate markets. Most of these variables are difficult to predict in advance. 

Is Buying a House in Sacramento a Good Investment?

Should you consider Sacramento real estate investment? Now that you know where Sacramento is, you probably want to know why we’re recommending it to real estate investors. Investing in real estate is touted as a great way to become wealthy. Many real estate investors have asked themselves if buying a property in Sacramento is a good investment. You need to drill deeper into local trends if you want to know what the market holds for the year ahead.

Let’s talk a bit about Sacramento. Sacramento is the capital of California, though many mistakenly think it is L.A. or another larger city. Sacramento is a minimally walkable city in Sacramento County with a population of approximately just over half a million people. It is overshadowed by bigger, glitzier cities like San Francisco or Los Angeles. When you take suburbs like Yuba City, Truckee, Roseville, and South Lake Tahoe into account, the Sacramento real estate market contains around two million people. However, size isn’t reason enough to invest in any real estate market.

The rise and fall of Detroit and the current decline of other rust belt cities are testaments to this. The city of Sacramento has a mixture of owners and renters, with 47.12% owning and 52.88% renting. According to Neigborhoodscout.com, a real estate data provider, three and four-bedroom single-family detached homes are the most common housing units in Sacramento. Other types of housing that are prevalent in Sacramento include duplexes, rowhouses, and homes converted to apartments. Sacramento has more renter-occupied housing accounts as compared to owner-occupied.

Single-family detached homes account for roughly 60% of Sacramento's housing units. Looking back in 2018 about 2,400 new dwelling units were built in Sacramento, most of them being single-family detached homes. That’s even more than San Francisco, a city of nearly 900,000 people where new towers have altered the skyline. Overall, neither Sacramento nor California produced nearly the same amount of new housing that occurred during the state’s big building boom more than a decade ago, when home construction in Sacramento peaked at 4,000 new units, city officials said.

Although this article alone is not a comprehensive source to make a final investment decision for Sacramento, we have collected evidence-based positive things for those who are keen to invest in the Sacramento real estate market. Let’s take a look at the number of positive things going on in the Sacramento real estate market which can help investors who are keen to buy an investment property in this city.

Annual Data for Sacramento County and the City of West Sacramento (2021)

Here’s a rundown of where the Sacramento real estate market was before the pandemic and how COVID upended things. The Sacramento housing market has outpaced itself every year. December 2021 Statistics released by Sacrealtor.org show the following Year-to-Date Statistics.

• Number of Closed Escrows 17,389, +5.9% from last year
• Dollar Value of Closed Escrows = $9,560,435,368, +26.0%
• Median price = $500,000, +19.0%
• Mean price = $549,798, +19.0%

Sacramento is a Healthy Housing Market

Sacramento had several thousand people move in there in 2017. Between people relocating here from overheated housing markets and demographic momentum, it saw 1.4 percent growth in 2017 and 2018. This gives the Sacramento housing market a source of slowly increasing demand and rising property values. Yet the area isn’t experiencing a bubble that will burst down the line.

The area also has a steady enough job market that it isn’t experiencing population loss like the San Joaquin Valley due to environmental crackdowns on agriculture or the risk of a collapse like San Francisco’s tech bubble may see. This is why SmartAsset ranked the city as the third healthiest housing market in the state.

For those considering Sacramento real estate investment, median rents of around 1700 dollars a month in Sacramento don’t sound as appealing as the 4000 dollars a month in San Francisco and 3400 dollars a month in San Jose. However, Sacramento is more landlord-friendly than some of the alternatives. For example, the Sacramento housing market isn’t burdened by local rent control laws, though the state government is considering imposing it on the whole state.

A side benefit of the relatively affordable Sacramento real estate market and increasing demand is that any Sacramento real estate investment will see significant appreciation. For example, the average rental rates in the Sacramento housing market went up nearly 9 percent year over year in 2018. That was the greatest increase for any American metro area.

Among all the nation's largest metros, the Sacramento metro area is predicted to have the highest sales and price growth in 2021. Therefore, with the affordable entry price of homes, high appreciation, and growing rent prices, real estate investors in Sacramento can enjoy positive cash flow and nice profits in the long term.

Sacramento's Cost of Living & Quality of Life

Sacramento may not offer the $200,000 salaries of tech startups, but it doesn’t cost you more than a million dollars to buy a modest bungalow, either. Sacramento’s cost of living is much cheaper than the California coast just 75 miles away. That’s why the Sacramento real estate market being 50 percent higher than that national average is irrelevant – it is the sizzling home prices in the Bay Area that make people move here for the relative bargains. The 20 percent higher cost of living is a bargain, too, compared to the California coast.

Sacramento offers a better quality of life than the larger cities it is becoming a suburb of. We’ll ignore the fact you’re far closer to Lake Tahoe because any home in the Sacramento housing market puts you in easy reach of the outdoors. The area offers white water rafting, hot air balloons, mountain biking, fishing, and nature walks. You don’t have to buy a luxury property in the Sacramento real estate market to enjoy beautiful views or live near open spaces.

The area had its great cuisine and entertainment options before the influx of Silicon Valley types, but a livelier night scene is forming, too. A side benefit of the more affordable Sacramento housing market is that homelessness is almost nonexistent in Sacramento. You certainly don’t need a poop reporting app to avoid the attendant health hazards while you go on your morning run.

One of the reasons to snap up a Sacramento real estate investment over one in the hotter real estate markets is that the area is safer overall. Sacramento has a slightly higher property crime rate than other big cities in cities, but Sacramento has a much lower violent crime rate. People are more concerned about being mugged, raped, or murdered than having their car broken into.

The nonviolent crime stats are also skewed due to the more lenient authorities in San Francisco and Los Angeles. When you ignore people shooting up in public and won’t punish violent panhandlers, your official crime rate is lower but that doesn’t make it better. Sacramento seeks to maintain order, public health, and safety to make it a safer place to live.

Sacramento is Bucking the Bad Trends Plaguing California

California is seeing overall population growth, but it isn’t healthy. Native-born Americans are fleeing the state for Oregon, Nevada, Arizona, and Idaho. They’re replaced by lower-skilled, lower-paid legal and illegal immigrants. This hollows out the middle class of the state while contributing to sky-high poverty rates. Sacramento is a stark contrast to these unhealthy trends. It is receiving an influx of middle-class and working-class people from around the state who don’t want to leave California.

This is why Sacramento ranked number one in the state for one-way U-Haul trips in 2018. This makes the Sacramento real estate market much healthier since it contains a true income mix. It also allows Sacramento real estate investment investors more options than luxury homes and densely packed affordable units, the only types of housing you see built in San Francisco.

People are willing to commute 90 minutes to San Francisco each way to get those Silicon Valley paychecks, though they don’t want to pay SF prices for a property. This is increasing the value of homes on the western side of the Sacramento real estate market since they’ve become a de facto suburb of the Bay Area.

While Yolo County is a rapidly developing suburb of San Francisco, the eastern side of the Sacramento metro area contains large tracts of agricultural land. The Central Valley is one of the most productive agricultural areas in the United States. This means that Sacramento's real estate investment opportunities include agricultural land and former farmland that is open to new development.

Sacramento's Diverse Job Market Is a Plus for Residents

San Francisco suffered a decline in the early 2000s when the first internet bubble burst. Fears of regulation and anti-trust action against Big Tech firms could cause the San Francisco area to suffer a second major decline because they’re so dependent on high tech to bolster the real estate market. Sacramento does have several high-tech jobs, many of them small firms that relocated to the area for its lower cost of living and doing business.

The government is the largest employer, and it is a stable one at that. Healthcare and construction are major employers, as well. This gives Sacramento a more stable job market in addition to low unemployment rates. Tourism and the service sector is a growing contributor, too, as people move here for the lower cost of living and have more money to spend on luxuries like going out. This contributes to the improving quality of life that will keep the Sacramento real estate market going strong.

Sacramento Rent Prices

Sacramento was on the nation’s top 10 list of rent increases in 2020. More people are moving out of big cities and heading toward surrounding areas, like Sacramento. The transition is driving rental prices up in counties like Sacramento, while rent in areas like San Francisco is going down. There is not a whole bunch of rental property inventory out there, which is driving the prices up.

As of July 28, 2022, the average rent for a 1-bedroom apartment in Sacramento, CA is currently $1,595. This is an 8% increase compared to the previous year. Over the past month, the average rent for a studio apartment in Sacramento increased by 21% to $1,750. The average rent for a 1-bedroom apartment remained flat, and the average rent for a 2-bedroom apartment decreased by -1% to $1,950.

• The average rent for a 2-bedroom apartment in Sacramento, CA is currently $1,950, up 5% compared to the previous year.
• The average rent for a 3-bedroom apartment in Sacramento, CA is currently $2,450, up 7% compared to the previous year.
• The average rent for a 4-bedroom apartment in Sacramento, CA is currently $2,695, up 10% compared to the previous year.

Some of the most affordable neighborhoods for renting in Sacramento are:

• Gardenland, where the average rent goes for $895/month.
• East Del Paso Heights where the average rent goes for $1,195/mo.
• South Hagginwood where the average rent goes for $1,195/mo.

Some of the most expensive neighborhoods for renting in Sacramento are:

• Downtown Sacramento, where the average rent goes for $3,143/month.
• Natomas Crossing where the average rent goes for $2,726/mo.
• Elmhurst where the average rent goes for $2,583/mo.

The Diverse Sacramento Rental Market Is a Plus for Investors

If you’re considering Sacramento real estate investment, the diverse rental market is a definite plus. Being a state capital, it is home to several universities. This allows you to rent to the relatively large student market in addition to the local population. There is, of course, the University of California campus in Sacramento, but you could own investment properties by American River College and other, smaller schools in the area, too. Around 50% of households are renter-occupied.

Best Neighborhoods in Sacramento to Buy a House

In any property investment, cash flow is gold. California has the 6th largest economy in the entire world. This is largely driven by its innovative production, the heavy tech sectors in the state, and more. Sacramento is an island of sanity in an overpriced, over-regulated, and overheated West Coast housing market.

It reflects the California ideal that most of the state has lost, and that’s we recommend it to investors over the “hotter” California metro areas. These are the same factors causing many Californians themselves to vote with their feet and move here instead of moving out of the state altogether.

The city remains a choice landing spot for coastal emigres tired of skyrocketing housing costs and long commutes. Sacramento is also a fast-growing city with a flourishing real estate market. Continuously developing economy, employment, and a better quality of life offer a lot of opportunities for real estate investors in Sacramento to purchase single-family homes as investment properties.

Good cash flow from Sacramento investment property means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Therefore, finding the best investment property in Sacramento in a growing neighborhood would be key to your success. If you invest wisely in Sacramento real estate, you could secure your future.

The less expensive the Sacramento investment property is, the lower your ongoing expenses will be. When looking for the best real estate investments in Sacramento, you should focus on neighborhoods with relatively high population density and employment growth. Both of them translate into high demand for housing.

The neighborhoods should be close to basic amenities, public services, schools, and shopping malls. A cheaper neighborhood in Sacramento might not be the best place to live in. A cheaper neighborhood should be determined by these factors – Overall Cost Of Living, Rent To Income Ratio, and Median Home Value To Income Ratio. It depends on how much you are looking to spend and if you are wanting smaller investment properties or larger deals in Class A neighborhoods.

Sacramento home prices are some of the most expensive in all of the United States. There are 89 neighborhoods in Sacramento. Midtown has a median listing price of $838.9K, making it the most expensive neighborhood. Hagginwood is the most affordable neighborhood, with a median listing price of $278K (Realtor.com).

Some of the most popular neighborhoods in Sacramento, California are Florin, East Sacramento, Midtown, Meadowview, Natomas Crossing, Arden-Arcade, North Sacramento, Elmhurst, East Sacramento, Tahoe Park, North Highlands, Natomas Park, Hollywood Park, Rancho Cordova, and South Land Park.

Elmhurst, Land Park, and Upper Land Park are some of the top neighborhoods in Sacramento to buy investment properties. These are quite affordable neighborhoods with a low entry price of homes, high cash-on-cash returns, and a positive appreciation forecast for the coming years.

According to Zillow, Elmhurst home values have gone up 14.3% over the past year. In January 2021, the median list price of homes in Elmhurst was $555K on Realtor.com, trending up 13% year-over-year. The median sale price was $540K. It is a seller's market.

Land Park has become relatively expensive as home values have appreciated by 8.8% over the past year and Zillow predicts they will continue to rise in 2021. The current median value of homes in Land Park is $778,298 (middle price tier of homes). In October 2021, the median list price of homes in Land Park was $699K on Realtor.com, trending flat year-over-year. The median sale price was $670K. It is a seller's market.

Upper Land Park is a neighborhood in the more general Land Park area of Sacramento, California. The real estate is primarily made up of small (studio to two bedrooms) to medium-sized (three or four bedrooms) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters.

The typical home value in Upper Land Park is $642,646. Upper Land Park home values have gone up 16.6% over the past year and they will continue to rise in 2021. It is a seller's market. The housing supply is very tight compared to the demand for property here. Overall, in terms of house affordability, the City of Trees is a nice choice for real estate investors. According to Zillow's index, the typical property price is $468,036 and home values have gone up 25.6% over the past year.

Top 10 Sacramento Neighborhoods Where Real Estate Is Going Up

Here are the ten neighborhoods in Sacramento having the highest real estate appreciation rates since 2000—List by Neigborhoodscout.com.

1. Central Oak Park
2. Woodlake
3. South Hagginwood
4. Norwood I-80
5. Youngs Heights
6. Central Oak Park East
7. Midtown Winn Park Capital Avenue North
8. Boulevard Park
9. Old Sacramento
10. Glen Elder North

We recommend taking the help of the local real estate agents to find neighborhoods with an affordable entry price of homes, high appreciation forecast, and growing rent prices so that as an investor you can enjoy positive cash flow and nice profits. Apart from Sacramento, you can also invest in many other real estate markets in California. California's real estate market is the focus of many U.S. and foreign real estate investors.

Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.

NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your turnkey investment properties.

Not just limited to Sacramento or California but you can also invest in some of the hottest real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience with our team to see if Sacramento makes sense as a place to invest today.

We can help build you a custom portfolio of turnkey properties located in some of the best markets in the United States. By researching and structuring complete turnkey real estate investments, we can help you succeed by minimizing risk and maximizing profitability.

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Please do not make any real estate or financial decisions based solely on the information found within this article. Some of the information contained in this article was pulled from third-party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US. This article aimed to educate investors who are keen to invest in Sacramento real estate. Purchasing an investment property requires a lot of studies, planning, and budgeting. Not all deals are solid investments. We always recommend doing your research and taking the help of a real estate investment counselor.

References

Market Data, Reports & Forecasts
https://www.sacrealtor.org/
https://www.sacrealtor.org/consumers/housing-statistics
https://www.zillow.com/sacramento-ca/home-values
https://www.littlebighomes.com/real-estate-sacramento.html
https://www.neighborhoodscout.com/ca/sacramento/real-estate
https://www.sacbee.com/news/coronavirus/article243805667.html
https://www.realtor.com/realestateandhomes-search/Sacramento_CA/overview

Foreclosures
https://www.realtytrac.com/statsandtrends/ca/sacramento-county/sacramento

Best Neighborhoods
https://www.homeunion.com/sacramento-ca/
https://www.neighborhoodscout.com/ca/sacramento/real-estate

Top Reasons to Invest in Sacramento
https://en.wikipedia.org/wiki/California_locations_by_crime_rate
https://realestate.usnews.com/places/california/sacramento/jobs
https://www.gobankingrates.com/making-money/economy/sacramento-vs-bay-area
https://www.thesandiegocriminallawyer.com/california-cities-most-dangerous.html
https://www.theguardian.com/business/2019/apr/29/big-tech-regulation-facebook-google-amazon
https://www.abc10.com/article/news/local/5-rent-controlled-cities-in-california/103-591256565
https://www.thrillist.com/entertainment/san-francisco/why-sacramento-is-the-new-oakland-sf
https://www.sfgate.com/bayarea/article/SnapCrap-app-San-Francisco-poop-feces-dirty-street-13281837.php
https://www.sfgate.com/expensive-san-francisco/article/uhaul-sacramento-san-francisco-moving-exodus-13509219.php
https://www.sfgate.com/expensive-san-francisco/article/sacramento-move-grass-is-greener-tips-bay-area-13164238.php
https://www.technologyreview.com/s/613628/big-tech-breakup-regulation-antitrust-apple-amazon-google-facebook-doj-ftc-policy

Rental Market Trends
https://www.rentjungle.com/average-rent-in-sacramento-rent-trends/
https://www.rentcafe.com/average-rent-market-trends/us/ca/sacramento/