According to CoreLogic’s July 2019 Single-Family Rent Index (SFRI), rents rose 2.9 percent year-over-year. The highest increase was in Phoenix, at 7.2 percent, followed by Tucson and Las Vegas, both at 5.7 percent.
- Phoenix-Mesa-Scottsdale, Ariz. – 7.2 percent
- Las Vegas-Henderson-Paradise, Nev. – 5.7 percent
- Tucson, Ariz. – 5.7 percent
- Detroit-Dearborn-Livonia, Mich. – 3.5 percent
- Los Angeles-Long Beach-Glendale, Calif. – 3.5 percent
- Charlotte-Concord-Gastonia, N.C.-S.C. – 3.5 percent
- Orlando-Kissimmee-Sanford, Fla. – 3.5 percent
- Atlanta-Sandy Springs-Roswell, Ga. – 3.5 percent
- Boston, Mass. – 3.3 percent
- Austin-Round Rock, Texas – 3.2 percent
“Rent increases on entry-level properties continued to outpace the rest of the rental market,” says Molly Boesel, principal economist at CoreLogic. “This trend should continue in the near term with strong demand from younger millennials who indicate they prefer to rent rather than own a home.”
For more information, please visit www.corelogic.com.