U.S. rent growth rebounded in May, with the 3.2% annual gain marking the highest gain in more than a year. All four price tiers saw year-over gains, with only the lowest tier below the national average.
St. Louis led the country for annual rent growth in May, followed by New York and Seattle. Austin, Texas and Phoenix saw annual rental costs losses of less than 1%.
Click here to read CoreLogic’s full May 2024 SFRI report, 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.
