Key facts
- Single-family rents in the U.S. rose 1.8% year-over-year in July.
- Annual rent growth in July was down from 2.3% a year ago.
- Rents for high-end properties outpaced low-end properties in June.
- Midwestern markets like Chicago and Detroit led rent growth in June.
- Some Sun Belt markets, including Houston and Dallas, remained soft in June.
- Los Angeles experienced the sharpest slowdown in annual rent growth in June.
Single-family rents in the U.S. increased by 1.8% year-over-year in July, a decrease from the 2.3% annual growth recorded in July of the previous year, according to data from Cotality. The company's Single-Family Rent Index indicated that monthly rent growth has followed a typical seasonal pattern for much of 2026, following a year of below-trend growth. July marked the fifth consecutive month of annual rent price increases, though prices remain below historic levels.
Cotality's report also detailed June 2026 data, which showed annual single-family rent growth at 1.5%, representing the fourth consecutive month of stronger annual gains and the highest rate since late 2025. In June, rents for high-end properties saw a 2.4% year-over-year increase, while low-end rents grew by 0.4% for the second month in a row. Growth in both tiers was lower compared to the previous year. Detached rental prices increased by 1.4% in June, while attached rental prices rose by 1.6%.
Molly Boesel, senior principal economist at Cotality, noted that while rents are rising slightly faster than earlier in the year, the market is far from the rapid growth seen in recent years. Pricing performance continues to vary across regions and price tiers, with higher-end rentals showing stronger gains than lower-end properties. Midwestern markets, such as Chicago and Detroit, led rent price growth, while some Sun Belt markets remained comparatively soft. Boesel described the market as slowly increasing rather than broadly accelerating.
Midwestern markets were identified as the strongest for rent growth. Chicago led with 5% year-over-year growth in June, followed by Detroit at 3.4%, Philadelphia at 3.2%, New York City at 2.8%, and Atlanta at 1.2%. Rent growth was slowest in the South among the highlighted markets. Houston rents declined 0.2% year-over-year in June, marking the fifth consecutive month of negative growth, while Dallas recorded a 0.2% increase. Los Angeles experienced the largest slowdown in annual rent growth for the fourth consecutive month, with its rate falling from 4.7% to 0.6%.