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Sacramento Numbers to Know

  • Sacramento’s multifamily vacancy rate was 6.1% in Q3 2026, down 0.4 percentage points year over year.

  • Average asking rent reached $1,807 per unit per month, up 0.8% year over year.

  • 3,431 multifamily units were under construction, down 33.8% from a year earlier.

  • 2,394 multifamily units were delivered year to date through Q3 2026, down 31.7% from the same period in 2025.

  • Sacramento recorded 3,269 units of net absorption year to date through Q3 2026, down 2.5% from the same period in 2025.

  • The average multifamily sale price rose to $238,878 per unit, up 51.2% year over year.

  • Sacramento’s average multifamily cap rate reached 6.7% in Q3 2026, up 120 basis points year over year.

  • California announced nearly $239 million in funding for 20 affordable housing developments totaling 1,700 homes in August 2026.

Speakers and Panels

The Affordable Housing Equation

How Developers, Investors and Public Agencies Are Unlocking Capital to Build and Preserve Affordable Housing

Daryl Carter

Daryl Carter

Chairman & CEO

Avanath Capital

Charles Liuzzo

Charles Liuzzo

Director, Real Estate Development

Eden Housing

Le Anne Thomas

Le Anne Thomas

VP, Acquisitions

USA Properties Fund

Phil Strawn

Phil Strawn

Project Executive and Partner

Modern Building

Daryl Carter

Chairman & CEO

Avanath Capital

Daryl J. Carter is the Founder, Chairman and CEO of Avanath Capital Management, LLC, a California-based investment firm that acquires, renovates, and operates apartment properties, with an emphasis on affordable and workforce communities. Mr. Carter directs the overall strategy and operations of the Company. Since its formation in 2008, Avanath has acquired $2.5 billion of properties in 13 states in the U.S., comprising 12,000 apartment units. Avanath is vertically integrated and is an SEC registered investment advisor and an institutional fund manager, with capabilities that include acquisition sourcing and underwriting, construction, asset management, and on-site property management.

Mr. Carter has 40 years of experience in the commercial real estate industry. Previously, he was an Executive Managing Director of Centerline Capital Group. Mr. Carter became part of the Centerline team when his company, Capri Capital Finance, was acquired by Centerline in 2005. Mr. Carter co-founded and served as Co-Chairman of the Capri Capital family of companies. He was instrumental in building Capri to a diversified real estate investment firm with $8 billion in real estate equity and debt investments under management. Prior to Capri, Mr. Carter was Regional Vice President at Westinghouse Credit Corporation and a Second Vice President at Continental Bank.

Mr. Carter holds a Master’s in Architecture and a Master’s in Business Administration, both from the Massachusetts Institute of Technology. He received a Bachelor of Science degree in Architecture from the University of Michigan. Mr. Carter serves on the Visiting Committee of the MIT Sloan School of Management. In 2015, Mr. Carter received the MIT Sloan School Distinguished Alumni Award and served as the 2015 commencement speaker for the Sloan School MBA graduation.

Mr. Carter is a Past Chairman of the National Multifamily Housing Council. Previously, Mr. Carter served as an independent director on the boards of the following companies: Catellus Development Corporation (CDX), Silver Bay Realty Trust (SBY), and Whitestone REIT (WSR).

Phil Strawn

Project Executive and Partner

Modern Building

Phil Strawn is a Project Executive and Partner at Modern Building, a Northern California general contractor and design-builder, where he has helped shape the company's growth since joining the firm in 2015. A Butte County native, Phil's roots in construction began as a teenager building custom homes in Paradise, California. Over a career spanning more than two decades, he has worked throughout the industry as a carpenter, OSHPD superintendent, bridge construction field engineer, construction management representative for the CSU system, project manager, estimator, and project executive.

 

At Modern Building, Phil focuses heavily on preconstruction, project development, and helping clients navigate the decisions that determine whether a project can actually get built. During his time with Modern, he has overseen the delivery of more than 27 multifamily developments totaling 1,639 units and more than $385 million in construction value. Sixteen of those developments have been affordable housing communities.

 

Phil's perspective on affordable housing extends beyond his role as a general contractor. As a multifamily developer, he has completed six affordable housing developments and currently has two additional affordable projects in the development pipeline. Working from both sides of the table has given him a particular interest in the intersection of design, construction cost, financing, and development feasibility. His favorite part of the process is working through those constraints to find a path that allows a project to pencil and ultimately get built.

 

Phil's connection to housing is also personal. Growing up in Butte County, he experienced periods of housing instability and homelessness during his teenage years, giving him a firsthand understanding of the importance stable housing can have on a family and a young person's future. He later self-financed his education at California State University, Chico, graduating magna cum laude with a B.S. in Construction Management before building his career in Northern California.

 

Today, Phil and the Modern Building team work throughout Northern California and beyond, with recent multifamily projects extending from Chico west to Fairfield and north to Weed. While multifamily and affordable housing represent a significant portion of Phil's work, Modern's experience also spans healthcare, K-12 and higher education, agriculture, industrial, commercial, retail, and hospitality construction. That breadth of experience informs Phil's approach to multifamily development and his belief that lessons learned across different building types can lead to better, more efficient housing.

 

Outside of work, Phil and his wife, Christa, are raising their two sons, Hayden and Liam, in Butte County. He spends much of his free time coaching youth sports, raising livestock on their small ranch, and supporting nonprofit organizations throughout the community.

The New Multifamily Playbook

Where Developers and Investors See Opportunity as Sacramento’s Supply Pipeline Resets

Ardie Zahedani

Ardie Zahedani

Partner

St. Anton Communities

Jim Singleton

Jim Singleton

Principal & SVP, Acquisitions

The Bascom Group

John Vignocchi

John Vignocchi

Founder & Managing Partner

Urban Capital

Daniel Parrella

Daniel Parrella

CEO

Gateway Development Company

John Vignocchi

Founder & Managing Partner

Urban Capital

John Vignocchi grew up in Santa Barbara, CA and graduated cum laude from Cal Poly San Luis Obispo with a B.S. in Business Administration and Minor in Economics. After graduation he moved to San Francisco with his wife Kaitlyn, and in 2019 he moved to Sacramento, Kaitlyn’s hometown, where he founded Urban Capital. John began his career as an analyst in Piper Jaffray’s Technology & Clean Tech investment banking team. In 2011 he joined SunEdison and was promoted to be the CFO for their North American Utility and Distributed Generation business unit where John helped manage a $2 billion solar development portfolio. Prior to founding Urban Capital, John worked for Tom Siebel at C3.ai (NYSE: AI) where he sold enterprise AI and machine learning software applications to Energy and Manufacturing companies.

Snapshot of Who Attends

Avanath | California Housing Finance Agency | California State University/Sacramento | Catalyst Housing | CBRE | City of Rancho Cordova | City of West Sacramento | Colliers International | CoStar | Demmon Partners | EAH Housing | Eden Housing | Gateway Development Company | Legacy Development Company | Marcus & Millichap | NorthArk Capital | Sacramento County | Sares Regis Group | SKK Developments | St. Anton Capital | The Grupe Company | Triwest Multifamily | TSD Developers | Urban Capital | Urban Development + Partners | USA Properties Fund | West Development Ventures

Why You Should Attend this Event

What You'll Learn:

  • How are Sacramento’s multifamily and affordable housing markets evolving as developers navigate changing demand, financing conditions and rising development costs?

  • Where are developers and investors finding opportunities across Sacramento’s market-rate multifamily landscape?

  • What financing strategies, public-private partnerships and incentives are helping move affordable housing projects from concept to completion?

  • How are developers balancing affordability, construction costs, rents and returns in today’s market?

  • What innovative development and design strategies are making new multifamily projects more efficient, attractive and financially viable?

  • How are architects and developers rethinking unit design, amenities, shared spaces and resident experience to meet changing renter expectations?

  • Where is new multifamily construction occurring, and which Sacramento submarkets have the strongest development and investment potential?

  • How are developers approaching the acquisition, preservation and conversion of existing properties to create more affordable and mixed-income housing?

  • What role are modular construction, prefabrication, technology and other innovations playing in reducing costs and accelerating housing delivery?

  • Where is capital flowing across Sacramento’s multifamily and affordable housing sectors, and what are investors looking for today?

  • How are public agencies, developers, investors and community stakeholders working together to address Sacramento’s housing needs?

  • What projects, neighborhoods and development strategies will shape Sacramento’s next generation of housing?

How You’ll Do More Business:

Join Bisnow to hear from Sacramento’s leading developers, investors, housing providers, architects, lenders and industry experts about the forces shaping the region’s multifamily and affordable housing market. Gain insight into where capital is moving, which projects are getting built and how innovative financing, development and design strategies are creating new opportunities across Sacramento’s housing landscape.

Who You’ll Meet During Networking:

Developers, owners, investors, affordable housing providers, brokers, architects, designers, construction professionals, lenders, financial professionals, government officials and other CRE decision-makers across Sacramento.

Why You Should Attend: Bisnow events bring together the biggest power players in the industry to identify opportunities, build your network and expand your business. With the largest audience of commercial real estate professionals in the world, no one knows how to help your business more than we do. Join Bisnow as we jump into the market to analyze its strengths and strategize on its areas of opportunity. You don't want to miss this event!

For information on sponsorship, pricing and availability at this event, contact max.stein@bisnow.com. For questions, recommendations, comments or press inquiries please email our event producer, Emily Cox at emily.cox@bisnow.com. 

Sacramento Multifamily News and Projects

Agenda

Time Activity
8:00 AM
9:00 AM
Breakfast, Coffee, and Networking
9:00 AM
9:45 AM
The Affordable Housing Equation

How Developers, Investors and Public Agencies Are Unlocking Capital to Build and Preserve Affordable Housing

9:45 AM
10:15 AM
Networking Break!
10:15 AM
11:00 AM
The New Multifamily Playbook

Where Developers and Investors See Opportunity as Sacramento’s Supply Pipeline Resets

11:00 AM
11:30 AM
More Networking!

Venue

Kimpton Sawyer Hotel
500 J Street
Sacramento, CA 95814

Ballroom Name/Floor: Magnolia Ballroom / Foyer

Parking Rates: 
Hotel Valet $25
Self Parking at $6 per hour

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Tickets

General Admission

$139.00 /ticket

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