The most recent CoreLogic Single-Family Rent Index (SFRI) reports that U.S. single-family home rental prices increased by 2.8% year over year in December 2023, consistent with the previous four months. Despite rent gains slowing down in the second half of 2023, costs have still risen by almost 30% since early 2020.
According to Molly Boesel, principal economist for CoreLogic, “Single-family rent growth closed out 2023 positively, with a 2.8% annual increase in December. Strong rent growth in the summer contributed to this annual gain, while monthly increases in the fourth quarter showed rents declining slightly more than usual for the season. Single-family rent growth is expected to stay within the range of 2% to 4% for 2024.”
For more details, you can read the full report at CoreLogic by clicking here.
#CoreLogic #Annual #Rent #Growth #Remains #Slow #Steady,