Annual U.S. rent growth registered a 1.7% increase in October, marking the lowest rate recorded since June 2020. On a monthly basis, October marks the third consecutive month of below-trend seasonal growth. This month-over-month decrease is a clear sign that rent growth is decelerating, especially in markets in the South and the West where rent growth is approaching historical averages following multiple years of red-hot rent growth.
Click here to read CoreLogic’s full SFRI report with September 2024 data, which features commentary from Principal Economist Molly Boesel.
All archived SFRI reports are available at this home page, while regular housing market reports and blog posts from CoreLogic’s Office of the Chief Economist can be found here.
Written by: Economy Team