U.S. rent inflation reached yet another record in January, fueled by red-hot markets such as Miami.
Single-family rental prices jumped 12.6% from a year earlier, according to the latest CoreLogic Single-Family Rent Index. All major metropolitan areas saw increases, but the Sun Belt experienced by far the biggest gains, with Miami’s asking rents up almost 39%.
All indicators show that the renting market is heating up, as would-be buyers of houses increasingly turn to rentals because they can’t find — and can’t afford — their dream houses.
