More in Business:
- New pizza sports bar plans January opening in Citrus Heights January 22, 2020
- Major renovation proposed for 15-acre shopping center in Citrus Heights January 19, 2020
- Pier 1 Imports store to close on Sunrise Boulevard January 12, 2020
Sentinel staff report–
A new report released this month shows median rental prices rose in Citrus Heights over the past 12 months by 2.3 percent. Regional rent prices also increased a similar amount, while California as a whole saw rents rise by a more modest 1.1 percent, according to a January 2020 rent report published by Apartment List.
The median rental price in Citrus Heights for a one-bedroom is listed at $1,140, which means rental rates are averaging about $25 more per month compared to the prior year. The median price of a two-bedroom rental is listed at $1,450.
By comparison, historical data from Apartment List shows average rents in Citrus Heights in 2014 were $787 for a one-bedroom, $998 for a two bed-room and $1450 for a three-bedroom rental. Today, the average two-bedroom rental costs what a three-bedroom rental ran in 2014.
While rents in the region have generally seen an increase, the report found Carmichael had the steepest increase over the past year, at 5.5 percent. North Highlands rents hovered at the same prices as a year ago, and Davis saw a slight increase of just 0.3 percent.
The report shows Citrus Heights rent is still lower than the neighboring city of Roseville, which saw a 3.4 percent increase in rent over the past year, with the median price of a one-bedroom listed at $1,360 and a two-bedroom at $1,720. North Highlands rent is slightly lower than Citrus Heights, with median rent for a one-bedroom listed at $1,070 and a two-bedroom at $1,360.
The Sacramento region still boasts significantly lower rental rates compared to the state’s median rent price of $1,450 for a one-bedroom and $1,849 for a two-bedroom, according to pricing data tracked by Apartment List.
One of the most expensive rents across the state is in San Francisco, where the median rent for a two-bedroom is listed at $3,101.
Nationally, rents grew by grew by 1.4 percent, with the highest increase seen in Arizona (3.5%), followed by North Dakota (2.7%). Only three states saw a slight drop in average rents: Louisiana, West Virginia and Alaska.
Apartment List publishes monthly rent reports using median rent statistics from the US Census Bureau, paired with rental listing data. The full report can be found at apartmentlist.com. See national comparison data here.
*This article was originally published in The Sentinel’s Jan. 5th Weekend Edition. Click here to sign up for our free weekly e-Edition.
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