Category: Market Updates

Here’s the latest rental activity and trends for the Phoenix Metro area for December 2023: Closed Rental Units: 2,033 (4.64% decrease year over year) Median Lease Rate: $2,095 (3.71% increase year over year) Average Lease Rate: $2,250 (1.32% decrease year over year) Average Days on Market: 46 (12.20% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for November 2023: Closed Rental Units: 2,249 (2.88% increase year over year) Median Lease Rate: $2,095 (0.48% increase year over year) Average Lease Rate: $2,256 (1.31% decrease year over year) Average Days on Market: 44 (18.92% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for October 2023: Closed Rental Units: 2,406 (10.27% increase year over year) Median Lease Rate: $2,100 (0.0% increase year over year) Average Lease Rate: $2,300 (1.03% decrease year over year) Average Days on Market: 41 (24.24% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for September 2023: Closed Rental Units: 2,539 (17.98% increase year over year) Median Lease Rate: $2,150 (2.38% increase year over year) Average Lease Rate: $2,368 (2.42% increase year over year) Average Days on Market: 39 (25.81% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for August 2023: Closed Rental Units: 2,575 (12.84% increase year over year) Median Lease Rate: $2,200 (0.23% increase year over year) Average Lease Rate: $2,466 (3.40% increase year over year) Average Days on Market: 41 (46.43% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for July 2023: Closed Rental Units: 2,417 (5.59% increase year over year) Median Lease Rate: $2,250 (2.27% increase year over year) Average Lease Rate: $2,390 (0.72% increase year over year) Average Days on Market: 34 (36.00% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for June 2023: Closed Rental Units: 2,307 (5.67% increase year over year) Median Lease Rate: $2,195 (0.18% decrease year over year) Average Lease Rate: $2,361 (0.08% increase year over year) Average Days on Market: 35 (45.83% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for May 2023: Closed Rental Units: 2,062 (3.41% increase year over year) Median Lease Rate: $2,195 (0.23% decrease year over year) Average Lease Rate: $2,371 (0.47% increase year over year) Average Days on Market: 35 (40.00% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for April 2023: Closed Rental Units: 2,150 (21.20% increase year over year) Median Lease Rate: $2,150 (2.05% decrease year over year) Average Lease Rate: $2,284 (0.13% decrease year over year) Average Days on Market: 35 (40.00% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for March 2023: Closed Rental Units: 2,254 (17.64% increase year over year) Median Lease Rate: $2,090 (0.48% decrease year over year) Average Lease Rate: $2,241 (1.28% decrease year over year) Average Days on Market: 41 (70.83% increase year over year)