CoreLogic: Low-End Rent Growth is Slowing

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Posted To: MND NewsWire

CoreLogic is noting a subtle change in rent growth for single-family houses. Its Single-Family Rental Index (SFRI) has logged a steady increase in those rents since 2010, peaking in February 2016 at a 4.2 percent annual gain. Since then rents have stabilized, with average year-over-year increases of 2.7 percent. The last data released was for April and showed a 2.9 percent annual change. The SFRI measures rent changes among single-family homes and condos, using a repeat-rent analysis to measure the same rental properties over time. Molly Boesel, writing in the CoreLogic Insights blog, says looking at specific price tiers reveals a more significant change. Since soon after the recovery began, rent increases have been driven by low-end rentals, those properties where rents are 75 percent or less…(read more)

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