Folsom Hit With Large Vacancy Rates
“If you build them, they will come”. Or so they thought…. Folsom is one of a few communities who has built many high-end apartments in the last couple of years, only to see them go vacant. Low interest rates and layoffs at Intel and other high-tech companies are to blame for a large part of the vacancies, as much as 18% in some areas. Folsom has the area’s highest average rent, at $1049 a month, compared to a regional average of $868. More is in the Sacramento Business Journal.