Skip to main content

CoreLogic: Single-Family Rents Up 3.1 Percent

Phil Hall
Feb 19, 2019
<div>Oregon is poised to make history as the first in the nation to offer a statewide rent control policy.</div>  <div>&nbsp;</div>  <div><a href="https://www.oregonlive.com/politics/2019/02/oregon-legislature-passes-nations-first-statewide-rent-control-p

Single-family rent prices recorded a 3.1 percent increase in December, according to new data from CoreLogic. This is slightly higher than the 2.9 percent increase recorded in December 2017.
 
CoreLogic determined that national rent growth was primarily fueled by low-end rentals throughout 2018. This market sector, which is defined as properties with rent prices less than 75 percent of the regional median, saw a 3.7 percent annualized increase in December, down slightly from the 3.9 percent increase from one year earlier. High-end rentals, where the rent prices are greater than 125 percent of a region’s median rent, were up 2.9 percent in December 2018; one earlier, the annualized increase was 2.5 percent.
 
Among the nation’s 20 major metro areas, Phoenix had the highest year-over-year increase in single-family rents in December with 6.9 percent, with Las Vegas close behind at 6.8 percent. Houston experienced the lowest rent increases in December, of all analyzed metros at one percent, down from 2.7 percent in 2017.
 
“Single-family rents increased an average of 3 percent in 2018, exceeding the 2.7 percent average pace experienced in 2017,” said Molly Boesel, Principal Economist at CoreLogic. “The strengthening in rent prices reflects strong economic and labor markets. However, low-end rental increases outpaced high- end increases for the fifth consecutive year, suggesting continued supply constraints on the lower end.”

 
Published
Feb 19, 2019
KBRA Assigns Preliminary Ratings To SEMT 2021-6

Pool Of 497 First-Lien Loans Combined Have A Principal Balance Of Nearly $449M

Industry News
Sep 16, 2021
Fugo Appoints Bahlman As VP, Client Relations & Sales

Brings 19 Years of Experience To Texas-Based Back-Office Support Company

Industry News
Sep 16, 2021
Envoy Mortgage Expands To Atlanta

Envoy Mortgage lender expanded its Southeast operations to Atlanta, GA.

Industry News
Sep 15, 2021
FHFA Suspends Controversial PSPA Amendments

Today, the FHFA will be suspending controversial provisions added to the Preferred Stock Purchase Agreement (PSPA) on January 14, 2021.

Industry News
Sep 15, 2021
Covius Holdings To Acquire Nationwide Title Clearing

All 670 NTC Employees, Including Senior Management, Will Join Covius

Industry News
Sep 14, 2021
MBA Appoints AVP Of Diversity, Equity, & Inclusion

Promotes Amber Lawrence From Position As Associate Director Of Career Development Programs

Industry News
Sep 14, 2021