US Single-Family Rent Index—October 2024
Key takeaways from a recent CoreLogic report.
Annual U.S. rent growth registered a 2 percent increase in September, continuing a slowing trend that began in early 2024, but is well below the average annual rent growth of 3.5 percent that occurred in the decade prior to the pandemic. High-end price growth (2.6 percent) slightly outstripped low-end gains, a sign that some renters are leveraging advantageous economic conditions to upgrade—including wages that are up by 40 percent since last September.
The CoreLogic Single-Family Rent Index analyzes data across four price tiers: Lower-priced, which represent rentals with prices 75 percent or below the regional median; lower-middle, 75 to 100 percent of the regional median; higher-middle, 100 to 125 percent of the regional median; and higher-priced, 125 percent or more above the regional median.
Read CoreLogic’s full SFRI report, which features commentary from Principal Economist Molly Boesel.
—Posted on November 27, 2024
