Cotality: Single-Family Rent Growth Sees Some Momentum

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Cotality, Irvine, Calif., released its single-family rent index for May, finding that rent prices increased by 1.3% year-over-year.

That’s a decline from the 2.6% increase in May 2025.

But, rents have increased 2.2% between February and May, compared with 1.9% during that time period in 2025 and 1.4% in 2024.

“The May data tells two different stories. While annual single-family rent growth remained subdued at 1.3%, rents increased 2.2% between February and May, a stronger-than-typical spring gain that signals improving momentum,” said Molly Boesel, senior principal economist at Cotality. “When we look beneath the national average, the market is becoming increasingly fragmented. Florida accounted for more than half of the annual declines among the largest metros, while rent growth in parts of the Midwest and Northeast remained several times the national rate. Though some markets that continue to post annual declines recorded positive spring gains, suggesting local conditions are beginning to shift despite still-soft year-over-year trends.”

By property type, rent for high-end properties increased 2.2% year-over-year in May, compared with 3.1% in May 2025. But, low-end rents increased by only 0.4%, compared with 1.6% in May 2025.

Rent growth for detached rentals was 1.1%, and for attached it was 1.4%.

Chicago (up 4.8%), Detroit (up 3.5%), Philadelphia (up 2.9%) and New York (up 2.8%) saw the highest rent growth among the 10 largest metros.

But, Houston (down 0.5%) and Dallas (down 0.2%) saw declines.