According to CoreLogic’s October 2019 Single-Family Rent Index (SFRI), rents rose 3.1 percent year-over-year. For the 11 month in a row, the highest increase was in Phoenix, at 6.8 percent, followed by Seattle and Las Vegas, at 5.8 percent and 5.4 percent, respectively.
1. Phoenix-Mesa-Scottsdale, Ariz. – 6.8 percent
2. Seattle-Bellevue-Everett, Wash. – 5.8 percent
3. Las Vegas-Henderson-Paradise, Nev. – 5.4 percent
4. Tucson, Ariz. – 5.2 percent
5. Charlotte-Concord-Gastonia, N.C.-S.C. – 4.2 percent
6. Austin-Round Rock, Texas – 3.7 percent
7. Los Angeles-Long Beach-Glendale, Calif. – 3.5 percent
8. Atlanta-Sandy Springs-Roswell, Ga. – 3.1 percent
9. Boston, Mass. – 3.1 percent
10. Orlando-Kissimmee-Sanford, Fla. – 3.1 percent
“Increases in low-end rent prices have outpaced those on the high end for more than five years as newly-formed households push up demand for entry-level rentals,” says Molly Boesel, principal economist at CoreLogic. “However, high-end rents gained momentum for the sixth consecutive month in October 2019, while low-end rates slowed for the first time in roughly five months, resulting in the narrowest gap in rent growth for these price tiers since 2014.”
For more information, please visit www.corelogic.com.
