Sacramento Multifamily Landlords Push Concession Levels to Highest Point in Years

Sacramento multifamily property owners have endured large swings in the market over the past three years. First came a wave of new residents and record demand that drove vacancy down to a 20-year low, and caused rent growth to skyrocket, surpassing 20% in some areas of greater Sacramento. However, starting in the second half of 2021, market dynamics shifted with three of the past four quarters recording negative net absorption, meaning more units were vacated than occupied.