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Why are rents rising in Sacramento while dropping in most of California? | Dollars and Sense

Rental prices are dropping in many places because of the coronavirus pandemic but not in Sacramento.

SACRAMENTO, Calif. — If you're looking for an apartment in Sacramento, you've probably felt the sting of rental prices going up.

"People's financial situations have changed given the fallout of the pandemic. A lot of people are trying to find better housing and live in more affordable areas," explained Rob Warnock from apartmentlist.com.

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This would seem to make Sacramento the perfect, affordable choice to rent an apartment - despite the fact, the average rent in Sacramento has increased 1.8% since June; while in the state of California, as a whole, rental prices have decreased 5% since June.

"In the grand scheme of things, Sacramento might not be an affordable city, but relative to the cities around it, I do think people see it as an affordable option," said Warnock.

The national average for a two-bedroom apartment is $1101. Sacramento is about $400 above the national average for a two-bedroom apartment at $1540. San Francisco tops the list at $2,470 for a two-bedroom apartment while Los Angeles comes in at $2010.

If you have a financial question for the Dollars and Sense team, text us at 916-321-3310.

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