The U.S. single-family rent rose 11.5%, the fastest year-over-year growth seen in over a decade. Will the nationwide rent growth continue?
In November 2021, the Miami metro area had the highest year-over-year increase with a 33% increase in single-family rent over the past year. According to the CoreLogic Single-Family Rent Index, the U.S. single-family rent increased 11.5% year-over-year in November 2021, the quickest year-over-year rise in over 16 years. With demand for single-family rentals soaring and willing tenants, property owners see themselves with the opportunity to increase their rental rates. The index believes, that in some markets, annual rent prices have continued to double and even triple in the last several months.
Rental prices for single family rentals continue to rapidly increase at record growth according to CoreLogic’s Single Family Rent Index. Paired with the continued improvement in the labor market, increases in rent are anticipated to remain strong. Today’s competitive and fast paced marketplace, demands that a successful business stays current with the latest market pricing and trends, operating systems, and administrative functions to remain profitable. Ryntal focuses on keeping your property competitive and operating at its peak levels of profitability utilizing the latest systems. Call us today, for a market analysis on your investment property.