The baseball world is abuzz with the recent announcement: the Oakland Athletics will be leaving their long-standing home in Oakland and relocating to Sacramento for the 2025 through 2027 seasons. As the team’s lease at the Coliseum expires, the A’s have secured Sutter Health Park, home of the Giants’ Triple-A affiliate, as their temporary base. But what does this move mean for the Sacramento real estate market, particularly residential rental prices?
The Impact on Sacramento’s Housing Market
1. Increased Demand for Rentals:
- With the A’s setting up camp in Sacramento, there will likely be an influx of players, staff, broadcasters, and fans seeking housing. This increased demand could drive up rental prices, especially in neighborhoods close to Sutter Health Park, in West Sacramento.
- Investors and speculators may also eye the opportunity to purchase properties near the stadium, anticipating higher rental yields during baseball season.
2. Neighborhood Revitalization:
- The presence of a major league baseball team can breathe new life into neighborhoods. Local businesses, restaurants, and entertainment venues may see increased foot traffic, leading to economic growth.
- As the area around Sutter Health Park develops, property values may appreciate, impacting rental rates.
3. Short-Term Rental Boom:
- Airbnb hosts and short-term rental operators could benefit from the influx of baseball-related visitors. Expect an uptick in short-term rentals during game days and special events.
- Homeowners near the stadium might explore renting out spare rooms or entire properties to capitalize on the baseball season.
4. Challenges for Long-Term Renters:
- Existing renters may face challenges. As demand rises, landlords might choose to convert long-term rentals into short-term accommodations to maximize profits during baseball season.
- Renters should be prepared for potential rent increases and competition for available units.
The Ripple Effect
1. Sacramento’s Reputation:
- Hosting a major league team elevates Sacramento’s profile. The city becomes more attractive to potential residents, investors, and businesses.
- The positive publicity could lead to population growth, further impacting the housing market.
2. Infrastructure Improvements:
- The A’s relocation might spur infrastructure investments. Upgrades to roads, public transportation, and amenities around Sutter Health Park could enhance the overall living experience for residents.
3. A Balancing Act:
- While excitement surrounds the A’s arrival, city officials must strike a balance. Ensuring affordable housing options for existing residents while accommodating the baseball community will be crucial.
3. Future Expansion of MLB:
- Major League Baseball will expand from 30 to 32 teams in the coming years. The only uncertainties are when the process will formally begin and when the two new franchises to be named will begin play.
- The A’s temporary relocation could boost Sacramento in the running to get an expansion team. Sacramento is currently the largest media market without an MLB team!
Conclusion
The Oakland Athletics’ move to Sacramento is more than just a sports story; it’s a real estate game-changer. As the city prepares to welcome its new baseball tenants, residents, landlords, and investors should keep a close eye on rental trends. Whether you’re a die-hard baseball fan or a savvy investor, Sacramento’s housing market is about to hit a home run!
