A for rent sign advertising a row house in northeast Capitol Hill, is pictured on Monday, August 26, 2019, in Washington D.C.
Tom Williams | CQ-Roll Call, Inc. | Getty Images
Demand for single-family rental homes is so strong that rents have nowhere to go but up, and they are rising at an increasingly fast pace.
Single-family rents in October were up 10.9% year over year, according to the latest report from CoreLogic. That is three times the 3.2% annual growth seen in October 2020. The jump comes as too much demand meets not enough supply. Vacancy rates on these homes are now at a 25-year low, as an increasingly competitive and pricey for-sale housing market drives more potential buyers…