By DSNews (Image by Jesse Bridgewater)
CoreLogic’s latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas, has found that in February 2021, there was a national rent increase of 3.9% year-over-year, up from a 3% year-over-year increase in February 2020.
“While single-family rent increases overall were above the pre-pandemic rate in February, renters are not experiencing recovery the same across the board,” said Molly Boesel, principal economist at CoreLogic. “As vaccine eligibility opens up more widely and businesses continue to open their doors in response, we may see a balance of recovery.”
As families continue to seek out more space and face housing affordability concerns, high demand and low rental supply inventory has led to rising rental prices nationwide.