Home | Newsletter | Advertise

Demand for Single-Family Rentals Outpacing Supply

  • November 13th 2012

by Shilpi Paul

✉️ Want to forward this article? Click here.

Demand for Single-Family Rentals Outpacing Supply: Figure 1

The demand for single-family home rentals has now grown to surpass the supply, reported The Wall Street Journal on Tuesday morning. The inventory of single-family homes for rent in the U.S. has fallen by 11 percent compared to last year, according to the cited CoreLogic report, while leasing activity is up 12 percent since the beginning of 2012.

As demand for this property type has risen, so has the rent. Average rents have increased by 2 percent in 2011 and 1 percent so far this year and CoreLogic expects them to keep rising throughout 2013. Trulia Trends, which analyzes trends in asking rents every month, found that national asking rents rose 5.1 percent in October 2012 versus October 2011.

From the Wall Street Journal:

It would take just 2.6 months to rent the available stock of for-lease homes in August, down from 3.2 months of supply last year and over 5 months in 2007. It took just six weeks for a listing to be rented, which was unchanged from one year ago but down from more than eight weeks in 2009.

Renter demand has been increasing due to several factors, posits the Wall Street Journal. Many potential homeowners can’t qualify for mortgages that now have tighter requirements, and many families have lost their homes to foreclosure.

See other articles related to: corelogic, rent increase

This article originally published at https://dc.urbanturf.com/articles/blog/demand_for_single-family_rentals_outpacing_supply/6295.

Pipeline: New Condos & Apartments Coming to the DC Area

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse