Housing Wire's Brena Swanson looks at the second-quarter figures from RentRange, which reveal the nation's top 25 cities for single-family rent growth.
The top market was once again Cape Coral–Fort Myers, Fla., but the two areas that followed are new to the list. The New Orleans and Seattle MSAs jumped to the top of the list with year-over-year rent growth of 20.6% and 16.6%, respectively. The top five were rounded out by two more Florida MSAs, Daytona Beach and Port St. Lucie.
“An increasingly competitive home buying market bodes well for the single-family rental market relative to both demand and rental rate increases,” said Wally Charnoff, CEO of RentRange Data Services. “As home prices appreciate across the U.S., detailed market intelligence is essential to making well-informed and thoughtful investment decisions for single-family rental properties.”