As the capital of California, one of the most popular state markets in the country, Sacramento received significant tailwinds. Despite the pandemic, Sacramento’s real estate market appears to be thriving. In particular, the capital’s latest success seems to be due to its proximity to several other major cities. Sacramento has received more attention as a cheaper alternative to its sky-high neighbors to the south (San Francisco and San Jose). Nearly a decade of appreciation has resulted in a shift from big cities to “small” towns.
The extra care comes at a time when more and more people are working from home. At the very least, fewer people have to live near an office, giving them the freedom to seek out cheaper alternatives. It’s fair to say that California’s capital will get plenty of extra attention for the rest of 2022, as it’s simply more affordable than many of its neighbors. Demand will most likely continue to drive prices up, perhaps even more than 15.8% over the next 12 months, or at least until more inventory can be added to the 4.5 week supply. considerably insufficient.
San Francisco to Sacramento by train (Amtrak)
- Best for: budget travelers looking to travel in comfort
- /Cost: 2.5 to 3 hours / from $33
COST OF LIVING
This is where the rubber meets the road. The numbers, when you see them, will simply make you wonder, “Why and how do people move to San Francisco?” “Out of control” cannot describe the inflated cost of houses or apartments in San Francisco.
Let’s start with a simple 2 bedroom apartment. In Sacramento, the median price will cost you $1,947 per month. Steep, yes. But in San Francisco, a 2-bedroom apartment will cost you (are you sitting down?) $4,128 a month.
Not only is Sacramento’s job market growing at around 2.5% per year, but the city ranks first when it comes to the balance between work and life. It’s also the state capital of California, so government jobs with great benefits abound. The most common jobs in Sacramento include administration, office and clerical support, and sales occupations. Sacramento’s two main industries are health care and social assistance and public administration.
If you don’t like hot weather, you may not be happy in Sacramento, where the summers are extremely hot! Temperatures can reach over 100°F. The good news is that it is dry heat, more tolerable than humid areas.
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While you might think San Francisco and Los Angeles are the “big” cities in California, San Jose has more residents. According to the US Census website, San Jose has a population of around 934,000, while San Francisco has a population of around 815,000.