March 2023 rents down on 23% of houses, same on 29% of houses, up on 48% of houses

The chart above from the team at John Burns Real Estate consulting shows March 2023 rents down on 23% of houses, same on 29% of houses, up on 48% of houses. This is from a 16,511 population of single family houses owned by the 23 biggest build-to-rent firms who own 375k+ houses.

So it’s not the whole market because it excludes condos and apartments, but it’s it’s a good temperature check on homes owned by institutional landlords.

See this post for the latest on national, state, and city rent prices.

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Reference:

– Rents on the Move: Unlocking Single-Family Rental Trends | John Burns Research and Consulting