Rent growth accelerated across the country
The national rent price of single-family homes more than tripled in January, up by 12.6% year over year.
That’s compared to the 3.9% rent growth in January 2021, according to CoreLogic’s latest Single-Family Rent Index. The strong price growth was partially due to the dwindling supply of available rental properties and record home prices, shutting out many prospective buyers and forcing them to keep renting.
“Single-family rent growth extended its record-breaking price growth streak to 10 consecutive months in January,” said CoreLogic principal economist Molly Boesel. “Rents increased across the country, and the gains were highest in the Sun Belt, which also had strong population growth last year.”
The national rent price of single-family homes more than tripled in January, up by 12.6% year over year.
That’s compared to the 3.9% rent growth in January 2021, according to CoreLogic’s latest Single-Family Rent Index. The strong price growth was partially due to the dwindling supply of available rental properties and record home prices, shutting out many prospective buyers and forcing them to keep renting.
“Single-family rent growth extended its record-breaking price growth streak to 10 consecutive months in January,” said CoreLogic principal economist Molly Boesel. “Rents increased across the country, and the gains were highest in the Sun Belt, which also had strong population growth last year.”
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