Sacramento's multi-family housing markets is already known for high rents and low supply. Now a new study suggests finding an apartment in Sacramento won't get any easier.
The Sacramento Business Journal's Digital Editor Sonya Sorich says the report comes from Yardi Matrix, which tracks major metro areas nationwide.
"The organization projects just 512 new apartment units for the entire year in the Sacramento area," says Sorich. "Also the news doesn't get any better, the report also projects that local rents will continue to increase."
Other comparably sized places like Portland and San Antonio have thousands more apartment units planned.
Some analysts say they lack of new apartments in the Sacramento area is due to a labor shortage. They say workers are going to the Bay Area for higher wages.
Sorich also has news about an El Dorado Hills-based brewery that won't be moving forward with a planned expansion and Macy's stores in the area that appear to be safe from the chopping block.