Rents for single-family rentals (SFRs) increased 3% year-over-year in May according to CoreLogic’s latest Single-Family Rent Index (SFRI) report. The index measures rent changes among single-family rentals using a repeat-rent analysis to measure the same rental properties over time. CoreLogic says rents have been climbing steadily since 2010 with annual increases over the past 12 months fluctuating between 2.9% and 3.2%.
Key findings:
- Rents for lower-priced homes increased faster than those of higher-priced homes.
- Phoenix once again outpaces other metros for rent increases.
- Houston and Orlando had the largest deceleration in rent growth in May.
