A downtown improvement project highlighted by a sparkling new arena and surrounding entertainment development is drawing attention to Sacramento, California’s formerly sleepy capital.
Curbed reports that Sacramento, which was once called a “cow town” by NBA legend Charles Barkley, is one of the nation’s busiest real estate markets. Young adults, including professionals, “creatives,” and new families, are considering Sacramento as an alternative to the Bay Area, mainly due to affordability. Though the median home price has risen by $20,000 over the last year, it still only sits at $317,000.
But Sacramento isn’t growing faster than any large California city, at 1.4 percent more residents a year, simply because it’s a cheaper satellite city for Bay Area techies. It’s coming into its own, and just happens to be near a metro area filled with residents looking for a cheaper option for urban living.