Want to rent in Sacramento?  Be prepared to get in line

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WEBVTT SHARD, EVEN HERE IN THESE MIDTOWNAPARTMENTS.WHEN IT COMES TO RENTING INSACRAMENTO, THESE DAYS, IT'S NOTJUST ABOUT AFFORDABILITY, BUTAVAILABILITY. >> MOST OF THEM ARE GETTINGRENTED BEFORE OUR TENANTS MOOUT, WITHIN THREE, FIVE, TENDAYS.KATHY: BILL SHOWER MANAGES ABOUT1000 HOMES IN THE SACRAMENTOAREA, AND TYPICALLY SEESVACANCIES AT ABOUT 10% TO 15%.BUT NOW? >> LESS THAN 1KATHY: THE WAITLIST AT LEGADO DERAVEL ON 16TH STREET STRETCHESTO SEPTEMBER. >> IT'S REALLY KIND OFASTOUNDING BECAUSE THERE WASN'TMUCH INTEREST IN DOWNTOWNSACRAMENTO AND NOW IT'S ALLABOUT DOWNTOWN SACRAMENTKATHY: THE AMENITIES OF CITYLIVING, MIXED WITH HIGH-ENDOFFERINGS, ARE DRIVING UP THEAPPEAL, BUT ALSO PRICES. >> OUR UNITS GO ANYWHERE FROM$1950 ALL THE WAY UP TO $3500.KATHY: AND YES, PEOPLE AREPAYING.THE EVIVA MIDTOWN OPENED INOCTOBER, AND APARTMENTS AREGOING FAST. >> WE WENT FROM 60% LEASED TWOMONTHS TO 95% RIGHT NOW.KATHY: AND IT'S NOT JUSTMARKET-RATE RENTALS.AFFORDABLE UNITS ARE BECOMINGFEW AND FAR BETWEEN.JUST ASK CADA, A PUBLIC AGENCYTHAT MANAGES PROPERTIES INSACRAMENTO, 25% BEINGAFFORDABLE. >> WE OPEN UP OUR WAITLIST EVERYMONDAY MORNING ONCE A WEEK AWE STARTED HAVING LINES OUT THEDOOR.KATHY: AND NORA TORREZ SAYS IFIT WASN'T FOR RENTAL ASSISTANCE,THERE'S NO WAY SHE COULD LIVE ON18TH AND CAPITOL

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When it comes to renting in Sacramento, these days it's not just about affordability -- but availability.  The demand for downtown and midtown living is going up and that's leading to waitlists for both market rate and affordable units. " Most of them are getting rented even before our tenants move out," Bill Shower, owner of S&S property management said.  Shower typically sees vacancies at about 10 to 15 percent among the hundreds of homes he manages.  But now, he said the vacancy is less than 1 percent.  The waitlist at Legado de Ravel on 16th Street in Sacramento stretches into September.  The Eviva Midtown opened in October -- and apartments are also going fast. " We went from 60 percent leased two months ago, to 95 percent right now," Eviva Midtown spokesperson Marina Ambroselli said. " So it's really kind of astounding because there wasn't much interest in downtown Sacramento, and now it's all about downtown Sacramento," Capitol Area Development Authority (CADA) spokesperson Wendy Saunders said.  CADA is a public agency that manages properties in Sacramento, 25 percent being affordable. " We open up our waitlist every Monday morning, once a week, and we've had lines out the door," Saunders said.  Property managers said the waitlists are a result of low inventory. " In my view, it’s a supply problem," Saunders said. " We just don’t have enough -- we need more."  The amenities of city living, mixed with high-end offerings are driving up the appeal -- but also prices.  At the Eviva Midtown, apartment prices range from $1,950 per month to $3,500.  Sacramento resident Nora Torrez said if it wasn't for subsidized housing, there's no way she could live on 18th Street and Capitol Avenue. " I would be homeless," she said. " It's that bad."