Single-Family Rentals: Pandemic Rent Growth Slide Stabilizes

Published: Sept. 18, 2020, 1:16 a.m.

A decline in rent growth for single-family homes brought on by the pandemic appears to have stabilized. The CoreLogic Single-Family Rent Index shows that it moved higher in July at a year-over-year rate of 1.7%. It had sunk to 1.4% in June. While that\u2019s good for the nation, metros vary and some have more catching up to do than others. \xa0 The pandemic swept across the country in February, forcing businesses to close and leaving a huge number of people unemployed. Many single-family landlords lowered their rents to keep tenants in place. That brought a steady rate of rental increases in the SFR marketplace to a much lower level. According to data from CoreLogic, they were rising at an average of 2.9%\xa0 during the first quarter of the year. From there, they slide to 1.7% in May and then 1.4% in June.\xa0 \xa0 www.NewsForInvestors.com