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The market for single-family rentals is on the rise.

According to CoreLogic’s Jan. 2019 Single-Family Rent Index (SFRI), rents are up 3.2 percent year-over-year—the fastest since 2016.

“Demand for single-family rentals has remained brisk, and while employment growth has played a role in rental demand, demographics have as well,” says Molly Boesel, principal economist at CoreLogic. “Households headed by someone under the age of 35 are more likely to rent than own, and with nearly a quarter of the U.S. population between the ages of 18 and 35, this age group continues to feed the demand for single-family rentals.”

The highest increase was in Phoenix, at 7.7 percent.

Credit: CoreLogic

The SFRI evaluates the SFR market nationwide and in 20 metropolitan regions.

For more information, please visit www.corelogic.com.

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