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June 25, 2022 | Rise in Rents Sets New Record In April

Robert Campbell

Robert Campbell is a real estate analyst and economist. He's been publishing The Campbell Real Estate Timing Letter since 2002. His book (Timing the Real Estate Market) presents a clearly defined method for predicting the peaks and valleys of real estate cycles.

 

April 2022 marked the 13th month in a row of record-setting rent increases for single-family homes.

Nationally, single-family rent jumped 14% year-over-year in April (Source: CoreLogic).

 

Here are the cities where rents increased the most – and the March median priced rent for each:

Miami: 40.8%  ($2,519)

Orlando: 25.8%  ($1,947)

Phoenix: 17.8%  ($2,157)

San Diego: 17.3%  ($3,503)

Las Vegas: 17%  ($2,089)

Rents continue to be on a meteoric rise, however unlike housing, there’s no sign of a slow-down yet.

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