SFR Rent Growth Continues Its 10-Month Decline

U.S. single-family rent price growth dropped to 5% in February, continuing its ten-month slog of slowing growth, according to CoreLogic’s Single-Family Rent Index. 

The metro-level numbers also indicate that renters are favoring more affordable markets such as St. Louis, long one of the least expensive of the 20 rental markets that CoreLogic looks at. In fact, what a difference a year has made for this Midwestern city by the Mississippi. A year ago, in February, it was at the bottom for gains but this past February it ranked at the top for growth at 7.8%. That city was followed by two Southern cities of Charlotte and Orlando. Each registered the next highest annual gains at 7.7%.