Single-family rentals, a popular part of the residential segment of commercial real estate, continues to feel pressure on rent growth.
In its latest SFR index, CoreLogic says that rent growth has decelerated for the fifth month running. "Single-family rents increased 10.2% year over year in September, down from 13.9% in April 2022," the firm wrote. "Lower-priced rent growth continued at record double-digit annual gains, up 12.1%, while higher-priced rent growth decelerated at the fastest pace since April's peak."
CoreLogic split out SFT into four subsets. Lower-priced (75% or less than regional median), was up 8.5% year over year. Lower-middle priced (75% to 100% of regional median), up 9.4% since September 2021. Higher-middle priced (100% to 125% regional median) was up 10.6%. Higher-priced (more than 125% of median), up 11.1%.
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