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Rent inflation remains on track to slow over the coming year


Abstract: Measures of market rents—the rental rate for new leases—increased about 15 percent in 2021. The surge occurred despite a modest increase of less than 4 percent in the rent and owners’ equivalent rent (OER) components of the most commonly watched U.S. inflation gauges, the Consumer Price Index (CPI) and personal consumption expenditures (PCE). A forecast of rent inflation using the Single Family Rent Index from CoreLogic, a financial analytics firm, would have accurately predicted this path a year in advance and currently anticipates rent inflation slowing to below 6 percent by the end of first quarter 2024.

Keywords: forecasting; real estate; rent inflation;

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File(s): File format is text/html https://www.dallasfed.org/research/economics/2023/0620
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Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Source: Dallas Fed Economics

Publication Date: 2023-06-20