U.S. Single-Family Home Rents Hit 14-Year High as Costs Surge
(Bloomberg) -- Rents for single-family homes in the U.S. climbed to the highest level since September 2006 as the pandemic pushes Americans to seek out more space.
Rent jumped 4.3% in March compared with a year earlier, according an index from CoreLogic Inc., led by double-digit increases in Phoenix and Tucson, Arizona.
The rent hikes have boosted single-family landlords Invitation Homes Inc., American Homes 4 Rent, and Tricon Residential Inc., which have seen shares reach all-time highs in recent weeks.
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