Skip to main content

Single-Family Rents Up in July

Phil Hall
Sep 18, 2018
ingle-family rents increased by 2.9 percent year-over-year in February, according to new data from CoreLogic

The price on single-family rental units increased by three percent in July compared to 2.7 percent in July 2017, according to new data from CoreLogic.
 
High-end rentals—properties with rent prices greater than 125 percent of a region’s median rent—were up 2.7 percent year-over-year in July, whereas this property sector only saw a gain of 1.9 percent in July 2017. Rent prices among low-end rentals—properties with rent prices less than 75 percent of the regional median—were up by 3.9 percent in July, compared to a gain of 4.3 percent in July 2017.
 
Among the nation’s 20 largest metro areas, Orlando had the highest year-over-year increase in single-family rents in July at 6.4 percent, followed by Las Vegas at 5.7 percent and Tucson, Ariz., at 4.2 percent. Seattle had the lowest rent price increase in at 1.1 percent.
 
“Single-family rents were quick to respond to the late-summer hurricanes in 2017 with increased rental demand showing up in higher rents in just one-two months after the disasters,” said Molly Boesel, CoreLogic Principal Economist. “Similar movements in rents could be seen in metro areas affected by Hurricane Florence in the following months.”

 
Published
Sep 18, 2018
Non-QM Lender Angel Oak Appoints David Raju As Group CIO

Firm continues to seek ways to optimize data and improve technology capabilities.

Non-QM
Oct 27, 2021
Evergrande Steadily Repays Debt While Taking On New Risk

Evergrande Chairman Hui Ka Yan has ambitious plans, signaling last Friday that the firm wants to move away from housing and focus on making electric cars. 

Industry News
Oct 26, 2021
Planet Home Lending Reports Q3 Gains In Asset Management, Servicing And Originations

The Planet Home Financial Group, LLC, parent company of Planet Home Lending, LLC and Planet Management Group, LLC reported steady growth across its servicing, correspondent and private-client channels.

Industry News
Oct 26, 2021
CFPB, DOJ And OCC Hit Trustmark National Bank For 'Deliberate' Redlining

The Consumer Financial Protection Bureau and U.S. Department of Justice, in conjunction with the Office of the Comptroller of the Currency are taking action against Trustmark National Bank for alleged redlining violations.

Industry News
Oct 25, 2021
Reports: Evergrande Group Makes $83.5M Interest Payment

Faltering Chinese development firm fends off default with payment to international bondholders.

Industry News
Oct 22, 2021
FAR Establishes Borrower Engagement Division

Finance of America Reverse LLC announced its formally established Borrower Engagement Division.

Industry News
Oct 22, 2021