Skip to main content

Single-Family Rent Prices Up 2.9 Percent

Phil Hall
Apr 16, 2019
ingle-family rents increased by 2.9 percent year-over-year in February, according to new data from CoreLogic

Single-family rents increased by 2.9 percent year-over-year in February, according to new data from CoreLogic. This is slightly higher than the 2.7 percent year-over-year- increase recorded in February 2018.
 
National rent growth was mostly fueled in February by low-end rentals in February, which saw a 3.7 percent year-over-year uptick during February; one year earlier, the annualized increase was 3.6 percent. High-end rentals recorded a 2.4 percent year-over-year increase in February, compared to 2.3 percent in February 2018.
 
Among the nation’s 20 largest metro areas, Phoenix had the highest year-over-year increase in single-family rents in February at eight percent, followed by Las Vegas at 7.1 percent and Tucson, Ariz., at 6.5 percent. Miami experienced the lowest rent increase among the major metro areas with a 1.2 percent rise.
 
“As with the for-sale market, supply of single-family rentals saw very low levels in February, putting upward pressure on the cost of both for-sale and for-rent homes,” said Molly Boesel, Principal Economist at CoreLogic. “Phoenix had rapid rent increases in February with only 1.9 months of single-family rentals available. On the other hand, Miami, which had the slowest rent increases, had 7.6 months of single-family rentals available.”

 
Published
Apr 16, 2019
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Tech
Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022