çanta

Single-family rent costs are Increasing at a Record rate

Demand for single-family rental homes is increasing continuously, pushing costs to record highs, as North Americans continue to desire larger homes including outdoor spaces.

Single-family rents rose a record 12.6% on annual basis in January, as per a new report from CoreLogic with growing rise of 3.9% in January 2021.

Every market witnessed rise in costs, but cities in the Sun Belt saw highly striking numbers.

Single-family rents increased 38.6% in Miami, Orlando, and Phoenix saw an increase of 19.9% and 18.9% respectively, as most of the Americans are preferring to migrate to warmer parts of the country.

The Washington, D.C. saw the least annual increase in rent prices of 5.6%.

Molly Boesel, principal economist at CoreLogic, “Single-family-rent growth extended its record-breaking price growth streak to 10 consecutive months in January.”

No Comments Yet

Comments are closed

CIOLook

CIO Look is Global business authority platform where you can explore the perspective of Entrepreneurs, business owners, and innovators who drive business around the globe. CIOLook has unvaryingly been at the front line for its honesty and genuineness acquiring acknowledgment from Business pioneers universally. It features best business hones inferred by individuals, organizations, and industry divisions around the globe…. Read More

Follow us