RD-20 ZONING DISTRICT
(20 Dwelling Units per Acre Maximum). This district is a high density residential zoning district which allows 18.1 to 20.0 dwelling units per acre. Typical development in this district includes apartments, condominiums, and other high density multifamily dwellings. The district also provides additional living opportunities for people of varying needs and income levels (e.g., residential care facilities, assisted living facilities, congregate care facilities).
WITH COLLEGE EDUCATION OR HIGHER
UNDER CONSTRUCTION IN RANCHO CORDOVA
> $100,000 HOUSEHOLD INCOME
MEDIAN HOUSEHOLD INCOME
RANCHO CORDOVA RENT GROWTH
OCCUPANCY IN RANCHO CORDOVA
AVERAGE CLASS A RENT
The site is located 5.6 miles from the Gold Line transit stop (Cordova Town Center Station).
Sacramento Regional Transit has four stops in Rancho Cordova on the Gold Line, which runs through Downtown Sacramento. It also connects with the Green and Blue lines for easy access to other areas in the Sacramento region.
Sacramento Regional Transit runs through Rancho Cordova on five bus routes which will take riders to destinations including Carmichael, Fair Oaks, Citrus Heights, and Rosemont. All routes also connect with light rail stops.
The Sacramento Multifamily market remains very strong. In 2021 the MSA vacancy hit an all-time low with a 3.5% vacancy rate.
The Sacramento area has benefited as many Bay Area residents searched for space increasing local demand. Renters have targeted larger units. Local rents remain affordable compared to Bay Area, while demand has pushed upward the Sacramento multifamily market fundamentals. The development pipeline has remained modest with a yearly pipeline of just over 1,000 units per year for the last three years. Rancho Cordova has only seen one delivery in the last ten years. Development has taken place in the upper income suburbs and downtown mostly. A strong migration of home buyers from the pricey coastal areas of California has pushed home prices and make it less attainable for local residents. The average year over year rent growth for the past 10 year has been 7.5% and is forecast to remain elevated. The Rancho Cordova market currently has a vacancy of 1.4% and an average home price of $481,995.