Rentometer has published its latest Single-Family Rentals Report, covering the first six months of the year and highlighting rent prices and trends across the U.S. The report also details which Arizona cities have seen increases in rent prices and which cities have seen decreases in rent prices.

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The report focuses on median rents for 3-bedroom single-family homes in over 1,100 cities nationwide. Single-family home rentals house 41% of the U.S. renter population, and three-bedroom single-family homes are a preferred option for many families and investors.

Key Takeaways for Arizona rent prices:

  • National Growth Remains Modest: U.S. rents rose 1.7% YoY to $2,135—still trailing inflation and wage growth.
  • Phoenix Hits New High: Rents climbed 2.7% to $2,250, rebounding from last year’s decline and reaching a record high.
  • Scottsdale Sees Sharp Decline: Median rent dropped 5.9% to $3,500—its lowest level since 2021.
  • Mixed trends across major cities:
    • Tucson: $1,895 (–0.3%)
    • Mesa: $2,245 (–1.1%)
    • Chandler: $2,395 (+1.3%)
    • Gilbert: $2,300 (–1.9%)
    • Glendale: $2,150 (+0.2%)
  • Build-to-Rent Boom Impacts Supply: Phoenix remains a top market for new SFR construction. Rising inventory is slowing rent growth and pushing vacancy rates higher—nationally reaching 6.3%, the highest since 2016.
  • More Cities Seeing Declines: 54% of Arizona cities tracked saw YoY rent drops; another 22% were flat.
  • Smaller Cities Drive Growth:
    • Prescott: +10.4%
    • Flagstaff: +7.1%
    • Apache Junction: +2.2%
    • Most Affordable: Sierra Vista ($1,600), Kingman ($1,650), Yuma ($1,700)

Check out the full report here.