According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices continue to hold steady but remains below average pre-pandemic levels. According to their report, prices posted a 2.8% gain year-over-year. However, while high-end rents saw a large increase, those on the lower end were struggling.
“On the surface, single-family rent growth in July could be characterized as ‘average,’ with the annual and monthly national changes roughly equal to long-term levels…However, a deeper look reveals that rent changes slowed at the lowest end of the market, dropping 0.2% in July from a year earlier. While this drop might be due to a strong year-ago comparison, it is most likely a welcome relief to renters looking for rentals in the lower-priced end of the market.” Said Molly Boesel, principal economist for CoreLogic.
Click here to read the full report at CoreLogic.
