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Single-Family Home Rents Post Biggest Gain in More Than 16 Years

July Jump

Rent for single-family homes in the U.S. surged 8.5% in July, the biggest increase since 2005.

The Phoenix metropolitan area led U.S. cities with an 18.9% year-over-year gain, according to a report Tuesday by CoreLogic Inc. Miami (17%) and Las Vegas (14.3%) also saw big jumps.