【World Property Journal】Home Rental Growth in U.S. Hits Highest Levels Since 2005

Based on CoreLogic's latest Single-Family Rent Index for June 2021, home rents nationwide increased 7.5% year over year, up from a 1.4% year-over-year increase in June 2020.

Hot housing market conditions have exacerbated the challenges of finding affordable rental properties for some consumers. According to a recent CoreLogic survey, 85% of consumers searching for a home said they prefer single-family homes. However, for-sale inventory remains in short supply as construction continues to lag. Not only is this keeping many would-be buyers on the hunt for single-family rentals, but it's also contributing to the dwindling availability and increasing prices of these properties. As space and affordability remain top priorities for renters, we can expect to see a similar trend as the for-sale market -- increased migration to less dense and lower cost areas.

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