The single-family rental market has seen the biggest rent increases in more than four years, according to CoreLogic. The big driving forces: demand, high-end properties, and the pandemic aftermath.
Rents on single-family properties were up 4.3% year over year in March. That compares to the 3.0% rate in March 2020 and the 1.4% low in June 2020. The data includes condominiums.
In general, rental vacancy rates in 2020 and 2021 were at their lowest levels since at least the late 1990s, according to Census Bureau data. In the first quarter of 2021, that was 6.8%, including houses and apartments. For homeownership housing, the vacancy rate was 0.9%.
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