Elk Grove Corridor Market Update – Sacramento Property Management

Another corridor analyzed for Sacramento property management information is the Elk Grove corridor. Elk Grove is a city in Sacramento County, California, located just south of the state 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 part of the economy: vineyards, dairy, and raw crops. But it has now seen a large move 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 rapid growth.

Prior to beginning the evaluation process, it is important to designate a project manager that will be accountable and see the project through from start to finish. The purchase of the property management system will signal that the the evaluation process has officially ended.

Two bedroom rentals in Roseville/Rocklin corridor have a rent of $1010/mo and Section 8 is paying $992/mo to Sacramento property management companies. The average square footage of Roseville/Rocklin two bedroom rentals is 1001 sq. ft and there is 1100+ rentals. The sq. footage and median rent achieve a $/Sqft of $1.02.

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 achieve 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 Roseville/Rocklin earns $57,000 and the vacancy rate is 3.6%. The key rent monthly amount for affordability is around $1434/mo.

Rents for Sacramento property management continue to fall. We are now in the third straight quarter in which they have lowered. Hopefully the economy turnaround will put an end to the downfall

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