US Single-Family Rent Growth Accelerates for Sixth Consecutive Month

Cotality has released its Single-Family Rent Index (SFRI) for August, reporting that US single-family rents increased 2.0% year-over-year. Although annual rent growth remained below the 2.1% recorded a year earlier, it marked the sixth consecutive month of faster rent growth.

Rent growth continued to vary by price tier. High-priced single-family rentals posted a 2.8% annual increase, while low-priced rentals rose 0.8%. By property type, rents for detached homes increased 2.1%, while attached rentals recorded a 1.9% gain.

Among major metropolitan areas, Chicago recorded the strongest annual rent growth at 4.9%, followed by Philadelphia (3.9%), New York–Jersey City (3.7%), and Detroit (3.3%). Houston posted the slowest growth at 0.6%. Only two metropolitan areas recorded annual rent declines in August, the fewest since September 2023.

Commenting on the report, Cotality Senior Principal Economist Molly Boesel said:

“August marks an important milestone for the rental market. Annual single-family rent growth returned to its long-run range, albeit at the lower end, for the first time since August 2025, and the number of markets experiencing rent declines fell to its lowest level since September 2023. Together, these trends suggest that rental market conditions are continuing to normalize and that rent growth is becoming more broadly distributed across the country.”