Real estate brokers in Sacramento are making more money than brokers anywhere else in the nation.
That's according to numbers put together by the American City Business Journals (ACBJ), a parent company of the Sacramento Business Journal.
A new report published Friday found Sacramento is the top market for real estate brokers. The ACBJ crunched figures gathered from the Occupational Employment Statistics program of the U.S. Bureau of Labor Statistics and found, brokers in the Sacramento area on average made $156,780 in 2016.
That's more than any of the 53 largest markets in the U.S.
The median income in Sacramento, Placer and Yolo Counties is about $75,000.
San Francisco/Oakland brokers made $115,490 on average last year, while Los Angeles brokers made an average of $80,260.
Commercial real estate brokers in Sacramento are averaging even higher numbers, about $200,000 to $250,000 per agent for a top property, according to the Sacramento Business Journal.
The Journal also points out Sacramento real estate brokers may be making more money than brokers in other California markets because there less people listed as brokers in Sacramento. With smaller numbers and a less saturated market, brokers can make more money.
The Sacramento real estate community is also older with many well-establish brokers who have experience and solid relationships. The older brokers are able to close bigger deals and take home more money. Many young brokers go to big cities, such as San Francisco, to have a better shot at establishing a career.
The Sacramento real estate market really turned up the heat in 2016 with spiking rents, high occupancy and investors eyeing and buying in the region, particularly around the new Golden 1 Center. The market is only expected to keep getting hotter in 2017.
The Sacramento region is attracting residents from other metro cities looking to make a move and Elk Grove and Roseville ranked as the top cities in the nation with millennial homeowners.