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Sacramento real estate market overview
- Average Monthly Rent: $1,854
- Home Price/Value Percentage Change: -2.60%
- Median Home Value: $460,329
- Best Time To Sell a Home: June
- Affordability Index: Low
- Days To Sell a House: 49
- Job Market: Fair
- Public School Ranking: 40
Location and weather
Sacramento is in the north-central part of California. It is in the Sacramento Valley along the Sacramento River and is the capital of California. It is about 90 miles northeast of San Francisco. Famous for having gold discovered there in 1848, Sacramento quickly grew. It became the western endpoint of the Pony Express and the first California railroad. It's now the center of the region's major agricultural production.
Sacramento's warm season is from early June to late September with an average high temperature above 86% with low temperatures in the low 60's. The cold season is from late November to mid-February with an average high temperature below 62 degrees and lows in the low 50's.
Population, job market and cost of living
Sacramento's population in 2023 is 1,542,481 with an annual growth rate of 1.09%.
The job market has decreased by -6.13% over the last year. 10-year future job growth is predicted to be 34.77%. The employment domains in Sacramento are Health Care & Social Assistance, Public Administration and Retail Sales. Other industries include food processing, especially almonds, aerospace, printing & publishing and the manufacture of wood products. Some of the biggest companies here are the Governor of California, Sutter Health, PORAC, SynGen and the California Department of Transportation (Caltrans).
The cost of living is high due to the Sacramento real estate market and higher cost of housing. With a temperate climate, amazing location, outdoor lifestyle, good job growth and major employers, Sacramento is poised to continue to grow and attract those that want the northwest California lifestyle.
Sacramento real estate market details
- South Natomas
- Woodlake
- New Era Park
- Parkway
- East Sacramento
The average monthly rent in Sacramento is $1,854 for an average apartment size of 827 sq. feet.
There has been a -2.6% decrease in median home value over the last year. As of 2023, the median home value is $460,329.
On average, homes in Sacramento sell after 49 days on the market.
The most profitable month to sell a home in Sacramento is during June. The quickest month to sell is in July.
The affordability index in Sacramento is 122. This number indicates low affordability in this city.
The top ranked public schools are Mira Loma High School, Natomas Pacific Pathways Prep, Arnold Adreani Elementary School, Pleasant Grove High School and Cosumnes Oak High School. This information is based on data measuring academic performance and equity.