Ever heard of Invitation Homes? They're probably a landlord in your Elk Grove neighborhood



A recent thorough and exhaustive analysis by a Sacramento-based real estate professional produced an eye-opening and revealing list of the ownership of single-family dwellings locally and throughout California.  

The analysis of property tax rolls by Ryan Lundquist, who also operates the website the Sacramento Appraisal Blog, found that one company owns over 9,000 dwellings in California. The bulk of their rental units are in Southern California and Northern California, with little in between, with a large concentration in the Sacramento Region.

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Mr. Lundquist found that Invitation Homes owns 1,782 dwellings in Sacramento County. The publically traded Dallas-based investment company has 2,578 housing units in Los Angeles County. 

In the maps footnotes, Lundquist wrote, "The bulk of these were purchased five to eleven years ago. I'm not aware of any location in the state where Invitation Homes is currently purchasing a large number of units (2023). On that note, they haven't sold a massive amount either through the years other than some non-performing assets."

Lundquist stopped short of blaming Inviation's ownership role in California's housing affordability crisis. He wrote, "If we blame institutional investors for all the problems we are having in the housing market, that takes attention off other things that need to be talked about. In short, let’s have this conversation for sure, but let’s also not blame Invitation Homes for a lack of affordability. That’s going too far, and it doesn’t leave any room to engage with other serious issues and ideas about housing policy needing to change (zoning, permit fees, etc…)"

Notwithstanding their possible role in the affordability crisis, Invitation has been criticized for unfair business practices. In the 2019 video below, the landlord was criticized for unscrupulous business practices in Tennessee.  

In the map above, you can zoom into Elk Grove and other communities to view Invitation's ownership. Below is the map of Invitation's properties in Sacramento County and surround areas. 

Although Invitation owns rental units in all three Elk Grove zip codes, the majority are west of Highway 99 in the 95757 and 95758 areas. 


  
Top photo by Ivan Samkov via Pexels 

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1 comment

D.J. Blutarsky said...

I've been told that over 25% of the homes in Elk Grove are rentals. Thank you renters for paying the landlord's Mello Roos/CFD/property taxes, which of course are built into your rent. 

Sorry that the City won't require the home builders to provide affordable single family homes for you while they build their high-profit monster homes targeting the extended families. Also sorry that the City's regressive Measure E sales tax hits you harder.

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