US Single-Family Rent Index—January 2025
Key takeaways from a recent CoreLogic report.

U.S. single-family rent growth slowed to 1.5 percent year-over-year in November 2024, the lowest annual increase recorded in more than 14 years.
With a 6.1 percent year-over-year rent increase in November, Detroit ranked first in the nation for growth out of 20 tracked major markets. The median price to rent a three-bedroom home in Detroit was $1,777 in October, one of only three metros with a monthly cost of less than $2,000, yet another indicator that Americans are seeking more budget-friendly places to live, particularly areas in the Midwest. The other two sub-$2,000 rental markets were Philadelphia ($1,634) and Houston ($1,921). Meanwhile, Washington, D.C.’s 5.5 percent increase could be partially attributed to the changeover in jobs that comes with a new political administration.
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To gain a detailed view of single-family rental prices across different market segments, CoreLogic examines four tiers of rental prices and two property-type tiers. National single-family rent growth across those tiers, and the year-over-year changes, were as follows:
- Lower-priced (75 percent or less than the regional median): up by 1.9 percent, down from 2.8 percent in November 2023.
- Lower-middle priced (75 percent to 100 percent of the regional median): up by 1.7 percent, down from 2.6 percent in November 2023.
- Higher-middle priced (100 percent to 125 percent of the regional median): up by 1.5 percent, down from 2.3 percent in November 2023.
- Higher-priced (125 percent or more than the regional median): up by 2.2 percent, up from 2 percent in November 2023
- Attached versus detached: Attached single-family rental prices increased by 1 percent year over year in November, compared with the 1.7 percent increase for detached rentals.
Of the 20 metros, Detroit posted the highest year-over-year increase in single-family rents in November 2024, at 6.1 percent. Washington, D.C. registered the second-highest annual gain at 5.5 percent, followed by Honolulu at 4.3 percent. Austin, Texas (-2.4 percent); Boston (-1.5 percent); Phoenix (-1.2 percent); Tucson (-0.4 percent) Dallas; Orlando and San Diego (all -0.3 percent) posted annual rental price losses.
—Posted on January 30, 2025