RENTCafé‘s April Rent Report reveals that Arizona rents are keeping shy of the national average, except for Scottsdale. While rents in the U.S. have seen a 3% upwards move compared with last year, the rest of Phoenix Metro as well as Tucson, have some catching up to do until they reach the $1,436 level of the national average.
Here are the highlights of RENTCafé’s report for Metro Phoenix and Tucson:
• In Scottsdale, rents are $1,476 on average, up $114 since April last year – the sharpest increase in Arizona.
• Tempe follows with average rents at $1,344, which is $70 more than same time last year.
• Chandler ($1,294) and Gilbert ($1,250) are on the same level but experienced healthy spikes since last year: $105 and $84 respectively.
• Peoria and Glendale both have seen over $70 increases compared to last year. The average rents there are now $1,156 and $962 respectively.
• In Phoenix, rents are averaging at $1,046. That’s $75 more since one year ago.
• Rents are cheapest in Tucson, however, at $862. Here the growth was not as large as in the other cities: $52.
RENTCafé’s data was compiled from actual rents charged in market-rated apartments in over 250 U.S. cities. If you want to find out more, access the full report here: https://www.rentcafe.com/blog/rental-market/national-average-rent-reaches-1436-rental-season-starts/.