According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices rose by 3.4% year over year in March, 2024 with the median monthly cost for a U.S. three-bedroom home coming in at $2,052. They also say that major coastal job hubs continued to lead the U.S. for annual rent growth – Seattle, New York and Boston once again took the top three spots.
“U.S. single-family rent growth strengthened overall in March, though some weaknesses are revealed in the latest numbers…And for the first time in 14 years, single-family, attached properties posted a year-over-year decline. The continued strength in single-family detached rents indicates that potential homebuyers who are priced out of the home-purchase market are choosing to rent similar alternatives.” Said Molly Boesel, principal economist for CoreLogic.
Click here to read the full report at CoreLogic.
