Q3 National Rent Analysis Reveals Double-Digit Increases

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Oct 25, 2022, 10:10 ET

75% of cities saw double-digit rent increases for SFRs

BOSTON, Oct. 25, 2022 /PRNewswire/ -- Rentometer has released their Q3 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 SFRs 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 Q3 '22 report covers 268 cities that had at least 25 data points for Q3 '21 and Q3 '22. We analyzed both year-over-year and quarter-over-quarter change in average rent prices by city for the third quarter.

Highlights from the report are as follows:

99% of the 268 cities experienced year-over-year rent increases
75% of the 268 cities analyzed experienced year-over-year rent increases greater than 10%
Some notable markets with increasing average rents over the past year are:

Orlando, FL (+32%)
Nashville, TN (+24%)
Jacksonville, FL (+18%)
Austin, TX (+14%)
Los Angeles, CA (+12%)

Download the full report from Rentometer to view the complete list of updated rent data.

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.