Single-Family Rent Growth Accelerates
U.S. single-family rent growth strengthened in December 2020 according to the CoreLogic Single-Family Rent Index (CoreLogic)
Rent growth strengthened in December 2020, increasing 3.8% year over year
– This is an increase from the low of 1.4% reported for June 2020
– This is also up from the 2.9% rate recorded for December 2019
The uneven recovery is highlighted in the rent growth across the tiers
– HIGH PRICE: Increased 4.3% in December 2020. This is up big from the gain of 2.4% in December 2019.
– LOW PRICE: Increased 3.3% in December 2020. This is actually down from 3.5% in December 2019.
The metro areas that saw the biggest increases were Phoenix, AZ (10.7%), Tucson, AZ (9.5%), and Charlotte, NC (7.1%)
The metro areas that experienced declines were Boston (-7.2%), Chicago (-.9%), and Honolulu (-0.1%).