Single-Family Home Rents Up 37% Year Over Year According to Dwellsy.com Data
June 6, 2022 | Dwellsy
Single-family rentals continue to be the hottest type of rental for renters across the U.S., pushing rents to the highest levels yet. Persistently high demand and lagging supply for this asset class continue to drive prices up across the nearly 300K available single-family home rentals Dwellsy listed in May.
• $2,260/mo: Median asking rent in May 2022 for single-family home rentals, up 37% vs. $1,650 in May 2021 (Sample size: 298,605 available May rentals)
• $1,650/mo: Median asking rent in May 2022 for apartment rentals, up 6.5% vs. $1,550 in May 2021 (Sample size: 295,287 available May rentals)
For the overall rental market, including both single-family rentals and apartments in Dwellsy’s analysis of nearly 594,000 available rental units in May:
• $1,995/mo: Median asking rent in May across the country
• 3.9%: 1-month growth in rent vs. $1,920/mo in April 2022
• 25.9%: 1-year growth in rent vs. $1,585/mo in May 2021
• 36.4%: Median rent as a share of pre-tax median income
