Much like the housing market, the rental sector is showing no signs of a slowdown. According to the most recent CoreLogic numbers, which show that U.S. single-family rents were up 2.9 percent year-over-year in April, among some other noteworthy data points.
Between 2010 and 2018, single-family rents have consistently increased, according to the CoreLogic Single-Family Rental Index (SFRI), which evaluates rent changes among single-family rental homes, including condominiums, utilizing a “repeat-rent analysis” to measure the same rental properties over time.
That said, year-over-year price hikes have moderated since February 2016—when they crested at 4.2 percent—holding steady over the past year with a monthly average of 2.7 percent, the SFRI reports. This April’s 2.9 percent year-over-year increase is a 1.3-percent drop in the growth rate since the 4.2 percent peak, it notes.
Low-end rental homes—properties with rents 75 percent or less of a region’s…