A “For Lease” sign is posted in front of a house available for rent in Los Angeles on March 15, 2022. Mario Tama/Getty Images
Rental rates for single-family homes continue to rise in Los Angeles and Chicago, but the second- and third-largest cities in the United States are outliers for a nationwide slowdown in rental rates across major metropolitan markets and property types.
Rents for single-family properties increased just 1.4 percent in August, global property analytics firm Cotality reported on Oct. 23. That’s less than half of rental rate growth for the same month in 2024 and the lowest level recorded in the past 15 years, said Molly Boesnel, Cotality’s senior principal economist.
