Year-over-year single-family rent growth has held steady across the county for July, with a 2.8% gain, but that remains below average pre-pandemic levels. It also was a 0.1% decrease from June 2024, according to CoreLogic's latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes across the country and in major metropolitan areas.
Before the pandemic, single-family rent growth averaged 3.4% annually for nearly a decade.
Rents increased more steeply for high-end properties, up 2.9% year-over-year in July compared with a 1.8% year-over-year increase in July 2023. Meanwhile, low-end rent prices dropped 0.2% year-over-year in July, a notable reversal from the 4.2% growth seen in July 2023. Rent gains for detached rentals were 2.6% in July, while attached units saw rents rise slightly higher, to 2.8%, according to the report.
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