Why Sacramento - Summer 2023

Once a typical government town, Sacramento has transformed into a destination for companies seeking relocation – and workers searching for greener pastures. Sacramento’s former dependence on government employment has been displaced by new industries in the region including tech, life sciences, mobility, and agriculture. Both household names and rising start-ups alike continue to indicate their desire for headquarters and satellite operations outside of traditional industry hubs, including the Bay Area and Los Angeles. In 2022, Sacramento was ranked as the #1 best place to live in California. Additionally, Sacramento was also ranked as the #3 most diverse city in the country. Due to the influx of residents seeking relocation, the region has seen a boom in both multi-family and residential development. The city of Folsom plans to add 10,000 homes and 40,000 residents by 2025, indicating the strong market health of outlying suburban submarkets. The Downtown/Midtown core has also seen significant multi-family growth with the delivery of The Mansion, 17 Central, and Lavender Courtyard which added 350 units of inventory. The diversity of housing options in the Sacramento area creates an attractive and promising market that will continue to see demand across all housing types.