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Home rental growth rates track below inflation
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.”