Single family home rentals seem to be going the opposite direction. My lease just came up for renewal. Tried my damnedest to talk them out of a 5% rate increase

Single family home rentals seem to be going the opposite direction. My lease just came up for renewal. Tried my damnedest to talk them out of a 5% rate increase based on covid and city wide rent declines, but they said that single family homes were facing a massive inventory shortage as people were rushing from apartments to houses. =/