PrintNearly 4 million more single-family homes have been added to the rental market since 2005. This new supply has fully caught up with the increased rental demand during the housing crisis - causing single-family home rents to flatten nationwide.
Nationally, rents rose 2.4 percent year over year. For apartments only rents rose 2.9 percent Y-o-Y, while rents for single-family homes were flat, rising just 0.1 percent Y-o-Y. In Las Vegas, Orange County, Los Angeles, Atlanta, and Phoenix, where investors have actively bought and rented out single-family homes, rents are either falling or flat. Even in single-family rental markets where rents are up, such as in Tampa and Dallas, asking prices to purchase homes rose much faster than rents.
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Rent and Price Changes on Single Family Homes |
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| # | U.S. Metro |
Y-o-Y% change in single-family home rents |
Y-o-Y % change in single-family home prices |
| 1 | Las Vegas, NV |
-1.9% |
24.6% |
| 2 | Fort Lauderdale, FL |
-1.2% |
10.7% |
| 3 | Chicago, IL |
-1.2% |
3.6% |
| 4 | Orange County, CA |
-0.7% |
13.7% |
| 5 | Washington, DC-VA-MD-WV |
-0.7% |
6.2% |
| 6 | Los Angeles, CA |
-0.4% |
11.0% |
| 7 | San Diego, CA |
-0.1% |
13.4% |
| 8 | New York, NY-NJ |
0.2% |
4.1% |
| 9 | Phoenix, AZ |
0.3% |
24.2% |
| 10 | Atlanta, GA |
0.8% |
12.6% |
| 11 | San Antonio, TX |
2.1% |
5.5% |
| 12 | Miami, FL |
2.8% |
12.1% |
| 13 | Houston, TX |
3.5% |
6.5% |
| 14 | Dallas, TX |
3.6% |
5.3% |
| 15 | West Palm Beach, FL |
3.8% |
14.1% |
| 16 | Riverside-San Bernardino, CA |
3.8% |
15.6% |
| 17 | Orlando, FL |
3.9% |
10.0% |
| 18 | Tampa-St. Petersburg, FL |
4.1% |
7.2% |
| Metros with largest single-family-home rental markets. Rent and price changes include single-family homes only. | |||
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