Q2 National Rent Analysis Reveals Double-Digit Increases

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Jul 26, 2022, 14:29 ET

80% of cities analyzed saw double-digit SFR rent increases

BOSTON, July 26, 2022 /PRNewswire/ -- Rentometer has released their Q2 2022 rent statistics for three-bedroom (3-BR) houses that are single-family rentals (SFRs). Rentometer collects data for all residential asset classes, but this report is focused on SFR because they are one of, if not the most, active residential rental asset classes today.

Rentometer's president, Mike Lapsley, commented that "we have increased our coverage and monitoring of the SFR market as the activity and interest in this particular market has escalated over the last few years."

The U.S. housing market continues to evolve in 2022, with property prices continuing to increase, interest rates rising, and rent prices for single family rentals (SFRs) increasing in almost every part of the country.

The Q2 '22 report covers 252 cities and towns that had at least 25 3BR house data points in Q2 '21 and Q2 '22. We analyzed the year-over-year change in average rent prices by city/town for the second quarter.

Highlights from the report are as follows:

96% (242 total) of the 252 cities/towns experienced year over year rent increases
80% (202 total) of the 252 cities/towns analyzed experienced year over year rent increases greater than 10%
Notable rental markets with increasing rents are:

Miami, FL (+59%)
Tempe, AZ (+31%)
San Diego, CA (+21%)
Austin, TX (+30%)
Memphis, TN (+24%)
Indianapolis, IN (+13%)

Download the full report from Rentometer to view the complete rental market analysis.

About Rentometer, Inc.

Rentometer collects, analyzes, and distributes multifamily and single-family rental price data throughout the U.S. Our rental property analysis is proven to be a valuable tool for our diverse customer base including real estate professionals, investors, owners, and renters as we deliver more than 20,000 reports on a daily basis.

SOURCE Rentometer, Inc.