Single-Family Rent Growth Remains Low, Cotality Finds

Cotality, Irvine, Calif., found single-family rent prices increased just 0.9% year-over-year in October.

That’s significantly lower than the 2.8% increase recorded in October 2024.

Broken down by type, rent for high-end properties was up 1.4% year-over-year in October, a drop from the 3.3% gain last year. Low-end rental prices were up 0.4% year-over-year, compared with a 2.7% gain in October 2024.

For detached rentals, rent growth was 0.8% year-over-year, and for attached it was 1%.

For the 10 largest metro areas, Chicago saw the highest single-family rent growth, at 4.6% in October. Washington, D.C., and Detroit both saw rent growth at 2.4% year-over-year. Of that list, Dallas had the lowest growth, with single-family rents falling 1.3%.

“Forty of the largest 50 metros posted lower annual rent growth compared to October 2024. Eighteen metros saw outright year-over-year declines in the Single-Family Rent Index, with half of those declines occurring in Florida,” said Molly Boesel, senior principal economist at Cotality. “While this moderation is notable, rents remain elevated compared to pre-pandemic levels. Annual growth peaked in March 2022, and even after three years of slowing, the national index in October was still 9% higher than the 2022 average level. This trend reflects a normalization process rather than a reversal, as affordability challenges and regional dynamics continue to shape rent performance.”