Home rental growth rates track below inflation
Research - APRIL 18, 2023

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Home rental growth rates track below inflation

by Kali Persall

Asking rents are on the rise but are still below the annual inflation rate, according to Dwellsy, the largest home rental-listing platform in the United States.

Since March 2022, asking rent for three-bedroom, single-family rental homes (SFRs) has risen by 5.3 percent, which is below the annual inflation rate of 6 percent. In the same period, asking rent for one-bedroom apartments fell by 0.1 percent. Month-over-month changes indicate that moderation is here to stay — at least for the short term. Rent for three-bedroom SFRs rose by 0.5 percent ($10) from February to March, and one-bedroom apartments were down by 0.5 percent.

“Rising prices are a daily reality for all of us now — which is why I was surprised to find that annual rent growth rates are tracking below inflation right now,” said Jonas Bordo, CEO and co-founder of Dwellsy. “After a rocky start earlier this year, it seems that we can (cautiously) settle in and enjoy a period of rent moderation.”

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