Single-family rentals (SFRs) saw the 17th straight month of slowing rent growth in September, bringing it to the lowest rate in three years, according to data from CoreLogic. However, the national average was still an increase of 2.6%, which is only slightly off from the pre-pandemic average.

As always, a national average doesn’t apply evenly to all local markets. “Relatively affordable metro areas continue to gain momentum, with St. Louis again leading the country for year-over-year rental cost hikes,” the company wrote. “Meanwhile, Miami — which led the U.S. for rent increases one year ago at almost 20% — was one of three U.S. markets to see prices decline annually in September.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erik Sherman

 

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.