Single-Family Rent Growth Up Slightly

Jul 16, 2019

Single-family rent prices increased three percent year-over-year in May, according to new data released by CoreLogic. One year ago, rents were up on a 2.8 percent year-over-year basis.

The national rent growth continued to be fueled by low-end rentals, with a 3.5 percent year-over-year growth in May, down from a 3.9 percent annualized rise May 2018. High-end rentals increased 2.5 percent in May, slightly higher than the 2.4 percent increase one year earlier.

Among the nation’s 20 largest metro area, Phoenix had the highest year-over-year increase in single-family rents during May at 7.4 percent, followed by Tucson at 6.3 percent and Las Vegas at 6.1 percent, while Miami and Houston tied for the lowest rent increases at one percent. CoreLogic attributed Phoenix’s rising rents to a strong local economy that boasted 3.2 percent annual employment growth, compared to the national average of 1.5 percent.

“Single-family rents increased the most in metros with high employment growth in May 2019,” said Molly Boesel, principal economist at CoreLogic. “Job growth in Phoenix, Orlando, and Las Vegas doubled the national average during May–stimulating increased rental demand in these markets and therefore driving rent prices upward.”

About the author

Phil Hall

Link copied

Published

Jul 16, 2019

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Nov

Pasadena, CA

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026