Rent prices are significantly higher than they were at the same time last year, rising by a nationwide 3.8 percent in January.

According to the latest  Single-Family Rent Index report from CoreLogic released on Tuesday, rent price growth remained stable from December to January. That said, the number is still much higher than it was in January 2020 pre-pandemic, when only a 2.9 percent increase was observed.


This type of growth indicates that the pandemic did little to curb demand for rental housing and the accompanying increase in prices. Such high growth has not been seen since June 2016. Unexpectedly, growth of lower-end homes worth less than 75 percent of an area’s median price dropped from 3.7 percent in 2020 to 2.9 percent now, but all other types of homes saw large increases. Homes worth more than 125 percent of an area’s median saw the highest jump from 2.5 percent in 2020 to 4.2 percent now.

“As rising home prices persist, some prospective buyers are being priced out of the housing market, keeping many households as renters,” Molly Boesel, principal economist at CoreLogic, said in a prepared statement. “This demand for rentals will push down single-family rental vacancy rates and put further upward pressure on rent growth this year, especially as the economy continues to recover.”


Month after month, Phoenix continues to report growth unparalleled anywhere else in the country — single-family home prices jumped 11 percent compared to last year. Tucson, Arizona and Charlotte, North Carolina, came close behind, at 9.8 and 7.6 percent, respectively, while Boston and Chicago saw its growth decrease likely due to the high numbers of students leaving the city amid college closures.

Email Veronika Bondarenko

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Network with CoStar, Redfin, Realogy, SERHANT., Divvy, and thousands more in-person at ICLV this October. Prices go up Sunday.Register Now×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription