Rent growth in the single-family rent market didn't break 3% in November, reaching only 2.7%, according to a CoreLogic report. The results are, they say, in line with changes in SFR rent since the summer of 2023.
SFR rent gains have been dropping since 2022, which makes sense given general market corrections. Also interesting, though, is that the last time there was an overall negative turn in rent rates, when the growth was below zero, was in 2008 through 2010, during the Great Recession. The lows were in the -4% to -5% range.
In 2022, rents grew at a peak of about 15%. Even now, the rates have continued to grow, although at a rate still near 3%.
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