Cotality: Single-Family Rent Prices Rise in May

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Cotality, Irvine, Calif., released its Single-Family Rent Index for May, finding that single-family rent prices increased 1.1% from April.

That’s faster than the 0.9% figure from May 2024, and near the average May increase in pre-pandemic norms.

Rents are up 3.1% from May 2024, compared with 3% from May 2023-2024.

Broken down by type, prices for high-end properties were up 3.8% year-over-year, compared with 3% last May.

Low-end rent prices increased 2.3% year-over-year in May, compared with 2.9% last year.

Rent for detached rentals grew by 2.6% and attached rental rates rose by 2.8% in May.

“Annual single-family rent growth accelerated in May for the fourth consecutive month, signaling sustained momentum in the rental market. While rent growth increases have been gradual, they stand in stark contrast to the cooling trend in home price growth, which has been slowing throughout 2025,” said Molly Boesel, Cotality Senior Principal Economist.

Boesel noted the divergence is not surprising. “Many would-be buyers, deterred by elevated home prices and interest rates, are staying in the rental market, driving up demand,” she said. “Monthly gains in the single-family rent index have consistently outpaced seasonal norms this year, suggesting that annual rent growth for 2025 is on track to exceed 3%.”