Category: Market Updates

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)

Here’s the latest rental activity and trends for the Phoenix Metro area for July 2022… Closed Rental Units: 2,289 (18.11% increase year over year) Median Lease Rate: $2,200 (10.00% increase year over year) Average Lease Rate: $2,373 (7.52% increase year over year) Average Days on Market: 25 (56.25% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for June 2022… Closed Rental Units: 2,294 (34.94% increase year over year) Median Lease Rate: $2,199 (11.34% increase year over year) Average Lease Rate: $2,359 (9.52% increase year over year) Average Days on Market: 24 (41.18% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for May 2022… Closed Rental Units: 1,994 (33.83% increase year over year) Median Lease Rate: $2,200 (15.79% increase year over year) Average Lease Rate: $2,360 (14.73% increase year over year) Average Days on Market: 25 (19.05% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for April 2022… Closed Rental Units: 1,774 (10.19% increase year over year) Median Lease Rate: $2,195 (21.94% increase year over year) Average Lease Rate: $2,287 (16.80% increase year over year) Average Days on Market: 25 (25% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for March 2022… Closed Rental Units: 1,966 (16.54% increase year over year) Median Lease Rate: $2,100 (16.73% increase year over year) Average Lease Rate: $2,270 (17.68% increase year over year) Average Days on Market: 24 (4.35% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for February 2022… Closed Rental Units: 1,812 (13.61% increase year over year) Median Lease Rate: $2,100 (19.66% increase year over year) Average Lease Rate: $2,270 (20.30% increase year over year) Average Days on Market: 25 (7.41% decrease year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for January 2022… Closed Rental Units: 1,513 (6.20% decrease year over year) Median Lease Rate: $2,100 (23.53% increase year over year) Average Lease Rate: $2,306 (22.53% increase year over year) Average Days on Market: 26 (13.04% increase year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for December 2021… Closed Rental Units: 1,513 (9.51% decrease year over year) Median Lease Rate: $2,085 (20.87% increase year over year) Average Lease Rate: $2,241 (18.76% increase year over year) Average Days on Market: 24 (4.00% decrease year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for November 2021… Closed Rental Units: 1,494 (11.18% decrease year over year) Median Lease Rate: $2,094 (16.72% increase year over year) Average Lease Rate: $2,262 (11.92% increase year over year) Average Days on Market: 22 (0.00% increase year over year)