According to CoreLogic’s latest Single-Family Rent Index (SFRI), U.S. single-family rent prices rose 2.4% year over year in January 2025, up slightly from 2.1% in December. However, this growth is still below the 2.6% increase recorded in January 2024. Historically, from 2010 to 2019, annual rent growth for single-family homes ranged between 2% and 4%, averaging around 3.5%.
On a monthly basis, rents grew by 0.4% in January–exceeding the typical January average of 0.1% from 2004 to 2019. This marks the first time since mid-2024 that monthly rent growth has outpaced seasonal expectations.
“After a period of slowing year-over-year growth, single-family rent increases are starting to stabilize,” said Molly Boesel, senior principal economist at CoreLogic. “January’s uptick may signal a turning point from December’s cycle low, and with rent increases exceeding seasonal norms, we could see renewed affordability pressures on renters.”
High-end rentals led the way in January, with rents rising 3.2% year over year–an increase from 2.5% the year before. In contrast, low-end properties saw slower growth at 1.9%, down from 2.8% in January 2024.
Rent growth was seen across property types: detached rentals climbed 2.3%, while attached units saw a 2.6% increase.
Among major metros, Washington, D.C. recorded the highest year-over-year rent growth in January at 6.4%, followed by Chicago at 6.0%. On the other end of the spectrum, Dallas experienced the lowest growth at just 0.3%, with Miami and Atlanta trailing at 1.4% and 1.5%, respectively.
Although D.C. and Chicago led January’s gains, Florida markets have dominated since 2020. Miami’s single-family rents have surged 52% since then, while Washington, D.C. has risen 30% and Chicago 25%.
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