The rental housing market is currently facing a slowdown, with growth rates declining after a surge in demand over recent years. Single-family rents grew by an average of 2.6% in 2024, below the 3.5% average from the previous decade. Miami's rents surged by 52% since 2020, yet the latest data shows a disparity, with higher-end rentals increasing more than lower-priced homes. December saw a seasonal dip in prices by 0.7%, marking five consecutive months of below-trend growth, while certain regions like Washington, D.C., still posted significant year-over-year increases.
The modest gains reflect a continuing slowdown in the rental housing market, which has struggled to regain momentum after surging demand in previous years.
Rents continue to increase, with an average increase of about $100 per year for the past five years, despite a significant deceleration in some segments.
Higher-end rental properties saw significant gains in December, with prices rising 2.4% year over year, indicating stronger demand for luxury rentals.
Growth was frontloaded and slowed throughout the year, marking a notable deceleration from the consistent patterns observed before 2020.
Collection
[
|
...
]