Year-over-year U.S. single-family rent growth was 2.7% in November, in line with gains typically seen before the pandemic. Boston, New York, San Diego and San Francisco all ranked in the top five metro areas for annual rent gains, indicating that demand could again be picking up for properties in expensive coastal regions. Meanwhile, Austin, Texas posted its fifth consecutive month of annual single-family rental cost declines, as an uptick in new, multifamily units in that metro is giving renters more options from which to choose.
Click here to read CoreLogic’s full November 2023 SFRI report, which features commentary from Principal Economist Molly Boesel.
All archived SFRI reports are available at this home page.