US Single-Family Rent Growth Slows in February

Cotality reported that its Single-Family Rent Index showed rent prices increased 1.1% year-over-year in February, a significant slowdown from the 2.6% gain recorded a year earlier. The February increase is also well below the pre-2020 average of 3.3%,

By price tier, high-end rents rose 2.0% year-over-year in February, down from 3.1% in February 2025, while low-end rents increased just 0.4%, compared with a 2.0% gain a year earlier. Detached rental prices rose 0.8%, while attached rentals saw a 0.5% increase.

Regionally, Chicago and Philadelphia posted the strongest annual gains at 4.8%, followed by Detroit (3.7%), New York–New Jersey (2.5%), and Washington, DC (0.6%). Miami recorded the weakest growth at -1.2%, while Los Angeles also saw declining rents, marking its first annual drop since the 2025 wildfires.

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

“While it looks like rent increases have slowed significantly more for lower-income renters, when you look back at the last five years, rent growth is similar across all price tiers, highlighting how broadly gains were distributed earlier in the cycle. Higher-end rentals continue to show comparatively more stability, with prices rising 2.0% year-over-year despite ongoing deceleration. Geographic differences remain substantial, but deceleration is becoming less widespread, with fewer metros seeing annual declines and slowdowns than last month. Los Angeles posted its first annual decline since the 2025 wildfires, signaling rents are beginning to trend back toward pre-wildfire levels.”