U.S. rents continued to grow at a slow and steady pace in August, posting a year-over-year gain of 2.4%. High-end rents grew considerably from last year and outpaced overall growth slightly, rising by 2.9% year over year in August. Low-end rent prices dropped by -0.2% during the same period.
Of the 20 tracked metros, seven posted gains of 4% or more, with Seattle topping the U.S. for annual rent growth in August. At the same time, rents in Austin, Texas slipped by -2.3% and Phoenix prices were flat.
Click here to read CoreLogic’s full SFRI report with August 2024 data, which features commentary from Principal Economist Molly Boesel.
All archived SFRI reports are available at this home page, while regular housing market reports and blog posts from CoreLogic’s Office of the Chief Economist can be found here.