Sacremento Rents to Rise in 2016
Renters will see little relief in the way of costs of living, as rents are expected to continue to rise throughout the year.
“We are already in a rental affordability crisis, and 2016 won’t let up,” said Svenja Gudell, chief economist at Zillow, in a recent report by CNN Money. According to the article, experts predict rents will rise faster than inflation, increasing three to five percent on a national level.
The Wall Street Journal also notes that apartment rents increased faster last year than any time since 2007. While new inventory is being created, it will likely have no immediate impact on rents in the coming months.