Rentometer posted a analysis of your second quarter 2022 statistics for three-bedroom (3-BR) homes that are single-family rentals (SFR)in which he found that:
– 96% (242 total) of the 252 cities experienced year-over-year rent increases.
– And that 80% (202 total) of the 252 cities analyzed experienced year-over-year rent increases greater than 10%.
Rentometer, the rental analysis site, collects data for all residential asset classes, but this report focuses on SFRs because they are one of the most active residential rental asset classes today.
Rentometer President Mike Lapsley commented: “We have increased our coverage and tracking of the SFR market as activity and interest in this particular market has increased in recent years“.
The Q2 2022 report covers 252 cities and towns that had at least 25 3BR home data points in Q2 2021 and Q2 2022.
The Rentometer study looked at the year-over-year change in average rental prices by city/town for the second quarter.
According to the analysis, Among the notable rental markets with rising rents are:
– Miami, Fla. (+59%)
– Buffalo, New York, (+50%)
– Orlando, Fla., (+34%)
– Tempe, Ariz. (+31%)
– Austin, Texas (+30%)
– San Antonio, Texas, (+30%)
– Columbus, Ohio, (+27%)
– Rochester, New York, (+27%)
– Memphis, Tennessee, (+24%)
– Pittsburgh, PA, (+21%)
– San Diego, California (+21%)
– Cincinnati, Ohio, (+20%)
– Phoenix, Ariz., (+19%)
– Boise, Idaho, (+18%)
– Indianapolis, Indiana (+13%)
– Portland, Oregon, (+13%)
For more details on the analysis, go here.
Rentometer collects, analyzes, and distributes rental price data for multi-family and single-family homes in the United States. Property analysis is a useful tool for real estate professionals, investors, owners and rentersfor better decision making.
Single-family rentals have been one of the most active in the residential rental market during the last year. With prices rising across the country, it’s important to know the rental market in different areas of the country.
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