Arizona renters are staying put longer, and 3-bedroom homes are emerging as the ideal solution. Our latest Point2Homes study, which examines how renter tenure changed from 2017 to 2022, reveals that long-term renting is on the rise, while the share of renters who move after less than 1 year is dropping – and Arizona is no exception. 

MORE NEWS: Phoenix maintains momentum as nation’s No. 1 industrial market

INDUSTRY INSIGHTS: Want more news like this? Get our free newsletter here

  • Nationwide, compared to 2017, the share of house renters who move within 12 months has dropped by 4.5 percentage points from 26.7% to 22.2%. In contrast, the percentage of renters staying 5-9 years and 10+ years increased from 16% to more than 18% — indicating a growing trend of long-term renting.
  • In Arizona, the share of renters who move after less than 12 months dropped the most in Tucson, which saw a 10.1 percentage points decline from 36.6% to 26.6%. In the Phoenix metro area, the share of renters who move before the year is over fell from 27.5% to 23.8%.
  • In contrast, the share of renters staying 5-9 years has increased from 11.3% to 17% in Tucson, and from 14.6% to 18.7% in Phoenix. The share of renters staying 10+ years has also increased from 9.3% to 12.4% in Phoenix and from 10.9% to 12.5% in Tucson.
  • Additionally, across the Arizona metros, 3-bedroom homes are the clear favorite. In Phoenix, over 50% of house renters opt for 3-bedroom layouts – exceeding the national average of 47%, while in Tucson 43.3% of house renters go for this option.
  • Nationwide, nearly one-third of all renter households live in single-family homes. This significant market segment is growing in Arizona, as renters seek stability and more spacious living options. 

Our analysis is based on IPUMS’ five-year estimates (2017-2022) for the 75 largest U.S. metros, focusing on rental tenure and bedroom preferences to provide a detailed view of evolving house renter trends. 

You can explore the full study here: https://www.point2homes.com/news/research/house-rental-tenure.html.