Category: Market Updates

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)

Here’s the latest rental activity and trends for the Phoenix Metro area for February 2023: Closed Rental Units: 2,185 (20.58% increase year over year) Median Lease Rate: $2,095 (0.24% decrease year over year) Average Lease Rate: $2,292 (0.97% increase year over year) Average Days on Market: 41 (65.38% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for January 2023: Closed Rental Units: 2,107 (39.26% increase year over year) Median Lease Rate: $2,045 (2.62% decrease year over year) Average Lease Rate: $2,269 (1.60% decrease year over year) Average Days on Market: 43 (65.38% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for December 2022… Closed Rental Units: 2,131 (40.91% increase year over year) Median Lease Rate: $2,020 (3.12% decrease year over year) Average Lease Rate: $2,280 (1.74% increase year over year) Average Days on Market: 41 (70.83% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for November 2022… Closed Rental Units: 2,186 (46.32% increase year over year) Median Lease Rate: $2,085 (0.48% decrease year over year) Average Lease Rate: $2,286 (1.06% increase year over year) Average Days on Market: 37 (68.18% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for October 2022… Closed Rental Units: 2,182 (42.06% increase year over year) Median Lease Rate: $2,100 (0.00% increase year over year) Average Lease Rate: $2,324 (0.69% increase year over year) Average Days on Market: 33 (65.00% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for September 2022… Closed Rental Units: 2,152 (38.04% increase year over year) Median Lease Rate: $2,100 (0.00% increase year over year) Average Lease Rate: $2,312 (0.30% decrease year over year) Average Days on Market: 31 (72.22% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for August 2022… Closed Rental Units: 2,289 (26.29% increase year over year) Median Lease Rate: $2,200 (4.52% increase year over year) Average Lease Rate: $2,373 (5.30% increase year over year) Average Days on Market: 25 (55.56% increase year over year)