Single-family rent price gains tripled y/y in March 2022

Single-Family Rent Growth Continued at Record Pace in March

CoreLogic’s latest Single-Family Rent Index indicates that single-family rent price growth increased +13.6% y/y in March 2022.  Not only did scant rental inventory squeeze renters, home price gains of single-family rental properties more tightly chocked affordability, a big factor contributing to the inflationary consumer price index (CPI).

Year-over-year US rent price growth in March 2022 more than tripled compared with rent price growth in March 2021 and more than quadrupled rent price growth in March 2020.


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Molly Boesel, principal economist with CoreLogic, said, “A shortage of single-family properties available for rent has plagued the market, pushing rents up at record-levels.  The number of single-family rental properties listed in early 2022 was well below pre-pandemic levels and still shrinking from one year ago.”

National Single-Family Rent Growth by Four Market Tiers

  • Lower priced (75% or less than regional median) – 12.4%, up from 3.3% in March 2021
  • Lower-middle priced (75% to 100% of regional median) – 14.1%, up from 3.5% in March 2021
  • Higher-middle priced (100% to 125% of regional median) – 14.6%, up from 3.8% in March 2021
  • Higher-priced (125% or more than regional median) – 13%, up from 5.3% in March 2021

Single-Family Rent Price Change in Select Metro Areas

Metro                      3/22 S-F Y/Y Rent Change    2/22 S-F Med. Rent

Miami FL                         +40.7%                        $2,442/month

Orlando FL                      +24.6%                         $1,878

Phoenix AZ                      +18.6%                         $2,093

Las Vegas NV                   +17.0%                          $2,034

San Diego CA                   +16.5%                          $3,363

Austin TX                         +14.2%                           $1,949

Dallas TX                         +14.1%                           $2,013

Boston MA                       +13.3%                            $2,924

Atlanta GA                       +12.8%                            $1,713

Tucson AZ                        +12.1%                            $1,792

Seattle WA                       +11.9%                            $1,055

Charlotte NC-SC                +11.2%                            $1,709

Chicago IL                         +10.7%                           $2,121

Los Angeles CA                  +10.6%                            $3,308

Houston TX                         +9.9%                             $1,715

Philadelphia PA                    +9.1%                             $1,481

Urban Honolulu HI               +8.3%                              $3,381

New York NY                        +8.2%                             $2,874

Washington DC                    +7.6%                              $2,692

St. Louis MO                         +7.5%                              $1,447

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Thanks to CoreLogic.

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