U.S. rents continued to grow at a steady pace in July, posting a year-over-year gain of 2.8%. High-end rents grew considerably from last year and outpaced overall growth slightly, rising 2.9% year over year in July. Low-end rent prices dropped by 0.2% during the same period.
Of the 20 tracked metros, eight posted gains of 4% or more, with Washington D.C. once again topping the U.S. for annual rent growth in July. At the same time, rents in Austin, Texas slipped 1.1% and Phoenix prices dipped by -0.8%.
Click here to read CoreLogic’s full SFRI report with July 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.
