Sacramento Property Management – Elk Grove Corridor Market Update

Another corridor analyzed for Sacramento property viewpoint mention is the Elk Grove corridor. Elk Grove is a city in Sacramento County, California, located just south of the own occurring capital of Sacramento. State population estimates place the city’s population at 136,318 as of January 1, 2007. Although it’s close proximity to California capital city, Sacramento, it remained independent until the late 1980’s. Today it still has its agriculture and a big share of the economy: vineyards, dairy, and raw crops. But it has now seen a large make miserable from technology and retail enterprises. This influx has caused Elk Grove to be the second-largest city in Sacramento County, this city has earned the dubious title of the fastest growing city in the U.S. due to its hasty lump.

One bedroom rentals in this corridor have a median rent of $738/mo and Section 8 is paying $813/mo to Sacramento property giving out companies. The average square footage of Elk Grove one bedroom homes are 1090 sq. ft and there are in the region of 50 rentals. The average square footage and median rent present a $/Sqft of $0.68.

Two bedroom reantal homes in Elk Grove corridor have a median rent of $895/mo and Section 8 is paying $992/mo to Sacramento property meting out companies. The average square footage for two bedroom rentals is 1115sq. ft and there is 250+ rentals. The sq footage and rent achieve a $/Sqft of $0.80.

Three bedroom rentals in this corridor have a median rent of $1300/mo and Section 8 is paying $1431/mo. The average square footage for the three bedroom rentals are 1383 sq. ft and there are 600+ rentals. The average square footage and median rent lead a $/Sqft of $0.94.

Four bedroom rental homes in Elk Grove corridor have a median rent of $1513/mo and Section 8 is paying $1641/mo. The average square footage for the four bedroom rentals are 1977 sq. ft and there are 500+ rentals. The sq footage and rent achieve a $/Sqft of $0.77.

The typical household in Elk Grove earns $60,000 and the vacancy rate is 1.9%. The key rent monthly amount for affordability is in the region of $1516/mo. While this corridor has had the lowest rent amount by square foot, it has had the lowest vacancy rate and highest affordability. These factors should offset any business roughly the dollar per square foot.

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