According to the latest CoreLogic Single-Family Rental Index (SFRI), single-family rents increased 2.9% year over year in March. Their index measures rent changes among single-family rental homes, including condominiums, using a repeat-rent analysis to measure the same rental properties over time. Interestingly, CoreLogic pointed out that single-family rents climbed steadily starting in 2010, and annual rent increases have stabilized, fluctuating between 2.7% and 3.1% for the past 12 months.
- Rents for lower-priced homes increased faster than those of higher-price homes.
- Phoenix had the largest annual rent increase of the 20 analyzed metro areas in March.
- Houston and Miami had the largest deceleration in rent growth in March.