Average family home rents up almost 3% in the US at end of 2017

Average rents for family homes in the United States increased by 2.8% in the year to the end of 2017, led by San Diego. But annual rental growth has slowed, down from a high of 4.2% in February 2016 although out of the 20 metros covered by the CoreLogic index, only Honolulu saw rents fall. Rents on higher priced rental homes increased 2.5% year on year and at the lower end of the market they increased by 3.9% but this was still down from a gain of 4.9% in December 2016. Rent growth varies significantly across metro areas covered by the index. The highest growth was 5.7% in San Diego while in Honolulu rents fell by 2%.