Sacramento Property Management – Elk Grove Corridor Market Update

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Another corridor analyzed for Sacramento property management information is the Elk Grove corridor. Elk Grove is a city in Sacramento County, California, located just south of the state capital of Sacramento. State population estimates place the city’s population at 136,318 as of January 1, 2007. Although it’s close proximity to California capital city, Sacramento, it remained independent until the late 1980’s. Today it still has its agriculture and a big part of the economy: vineyards, dairy, and raw crops. But it has now seen a large move from technology and retail enterprises. This influx has caused Elk Grove to be the second-largest city in Sacramento County, this city has earned the dubious title of the fastest growing city in the U.S. due to its rapid growth.

One bedroom rentals in this corridor have a median rent of $ 738/mo and Section 8 is paying $ 813/mo to Sacramento property management companies. The average square footage of Elk Grove one bedroom homes are 1090 sq. ft and there are around 50 rentals. The average square footage and median rent achieve a $ /Sqft of $ 0.68.

Two bedroom reantal homes in Elk Grove corridor have a median rent of $ 895/mo and Section 8 is paying $ 992/mo to Sacramento property management companies. The average square footage for two bedroom rentals is 1115sq. ft and there is 250+ rentals. The sq footage and rent achieve a $ /Sqft of $ 0.80.

Three bedroom rentals in this corridor have a median rent of $ 1300/mo and Section 8 is paying $ 1431/mo. The average square footage for the three bedroom rentals are 1383 sq. ft and there are 600+ rentals. The average square footage and median rent achieve a $ /Sqft of $ 0.94.

Four bedroom rental homes in Elk Grove corridor have a median rent of $ 1513/mo and Section 8 is paying $ 1641/mo. The average square footage for the four bedroom rentals are 1977 sq. ft and there are 500+ rentals. The sq footage and rent achieve a $ /Sqft of $ 0.77.

The typical household in Elk Grove earns $ 60,000 and the vacancy rate is 1.9%. The key rent monthly amount for affordability is around $ 1516/mo. While this corridor has had the lowest rent amount by square foot, it has had the lowest vacancy rate and highest affordability. These factors should offset any concern about the dollar per square foot.

Sacramento property management can be used to optimize your important real estate investment and you should identify a property management company that is proactive, identifies problems quickly, and can correct them before it destroys your cash flow.