SFR Rents Rise YoY for 11th Straight Month
Updated: May 4
By Paul Bergeron
April 20, 2022 at 08:08 AM
The 13.1% increase is more than four times the pre-pandemic rate.
CoreLogic this week reported the 11th straight month of record-level gains in SFR rents—a 13.1% year-over-year rise nationwide in February. This is more than three times the rate from a year earlier and more than four times the pre-pandemic rate, according to Molly Boesel, a principal economist at CoreLogic.
The Sunbelt posted the largest price hikes again, with rents in Miami up 39.5% from February 2021. In second and third place were Orlando and Phoenix with gains of 22.2% and 18.9% respectively. On the other end of the spectrum, the Washington, D.C. area and St. Louis posted the lowest annual rent price growth, both at 6.5% for the month.