(NewsNation) — Rents for single-family homes have risen 41% over prepandemic prices, with multifamily rents rising 26% in the same time frame, according to real estate company Zillow. A market report from Zillow found that single-family homes cost 20% more to rent than multifamily apartments, the largest difference the company has ever recorded. Although high mortgage rates are tamping down on buyer demand, construction of multifamily buildings has kept rent growth stable, while detached, single-family homes continue to see rents increase. Home sales stall as 7% mortgage rates return "Right now, more multifamily units are hitting the market than at any time in the past 50 years, but detached homes aren't seeing the same surge in construction," said Skylar Olsen, Zillow chief economist. He also pointed to the millennial generation, whose oldest members are now in their 40s, wanting to move into larger spaces. On an annual basis, rents for detached homes grew 4.4% compared to 2.4% for apartments. Zillow also noted an increase in concessions to lure tenants to apartments, including months of free rent or free parking. Those were seen on 41% of all rental listings, a record high. The median age of renters has also increased to 42, up from 33 just three years ago. For those hoping to buy, more homes were on the market than any December since 2019, a sign sellers are returning instead of waiting for mortgage rates to drop.