Annual rent growth for single-family units jumped +12.6% y/y in January 2022.
Single-Family Annual Rent Growth Hit 10th Consecutive Record High
Annual rent growth for single-family units came out of the gate with an increase of +12.6% y/y in January, according to the CoreLogic Single-Family Rent Index (SFRI).
Annual rent growth for single-family rental homes and condominiums in January 2022 was more than triple the gain posted in January 2021 and more than four times the rent growth increase in January 2020.
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Single-Family Rent Growth by Price Tier and by Property Type
Rent growth at all price tiers and property types continued to increase in January 2022.
- Low-tier (less than 75% of region’s median rent) – +12%, up from +3% in January 2021
- High tier (more than 125% of region’s median rent) – +12.2%, up from +4.5% in January 2021
- Single-Family Attached Units – +12.2%
- Single-Family Detached Units – +12.4%
Metro Level Single-Family Rent Index Y/Y Changes
- Miami – +38%
- Orlando – +20%
- Phoenix – +19%
- Las Vegas – +17%
- San Diego – +16%
- Austin – +15%
- Boston – +14%
- Dallas – +14%
- Atlanta – +13%
- Tucson – +12%
- Charlotte – +11%
- Houston – +10%
- Los Angeles – +9%
- Seattle – +9%
- Chicago – +9%
- Honolulu – +9%
- Philadelphia – +8%
- New York – +7%
- Louis – +6%
- Washington DC – +6%
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Thanks to CoreLogic.