Single-family monthly rental rates increased from $2,212 to $2,330 at the close of the first quarter of 2023, compared to the same period in 2022 for a 5.3% increase, according to USA Today, which reported on a HouseCanary analysis that was shared exclusively with the publication. “This was despite a 75% increase in inventory year-over-year, from 36, 688 to 64, 210,” USA Today noted. 

SFR rents are rising even as multifamily prices are moderating, which begs the question why this cohort is tolerating the increase. One answer might be the changing profile of the SFR tenant.  


GlobeSt. Multifamily Fall 2023Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.