Single-family rent growth remains positive for most U.S. cities. However, the rate of growth has slowed significantly in the second half of 2023 in almost every city and in all regions of the U.S.. This has been apparent for several months now and it has been reconfirmed by Rentometer, which just published a report on SFR rent growth patterns across the U.S.

Not surprisingly, various factors influence rental prices, including high demand, low supply of inventory, and rising interest rates. The housing market also continues to evolve, impacting rent prices in different markets and regions. Following is Rentometer's analysis on the U.S. markets and where SFR rent trends are headed.

Four out of six regions in the U.S. showed improved year-over-year rent growth for single-family rentals in the fourth quarter of 2023 compared to the third quarter of 2023. Nationally, rent growth was 5.3% in the fourth quarter of 2023, according to a report compiled by Rentometer, Inc.