Category: Market Updates

Here’s the latest rental activity and trends for the Phoenix Metro area for May 2021… Closed Rental Units: 1,490 (26.7% decrease year over year) Median Lease Rate: $1,900 (18.75% increase year over year) Average Lease Rate: $2,057 (16.61% increase year over year) Average Days on Market: 21 (27.59% decrease year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for April 2021… Closed Rental Units: 1,610 (4.94% decrease year over year) Median Lease Rate: $1,800 (12.50% increase year over year) Average Lease Rate: $1,958 (11.82% increase year over year) Average Days on Market: 20 (16.67% decrease year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for March 2021… Closed Rental Units: 1,687 (5.38% decrease year over year) Median Lease Rate: $1,799 (12.44% increase year over year) Average Lease Rate: $1,929 (9.66% increase year over year) Average Days on Market: 23 (3.57% decrease year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for February 2021… Closed Rental Units: 1,595 (8.86% decrease year over year) Median Lease Rate: $1,755 (13.23% increase year over year) Average Lease Rate: $1,887 (9.90% increase year over year) Average Days on Market: 27 (3.57% decrease year over year)

The rental market has continues to show strength with limited inventory and strong year-over-year rent rate growth.  Here’s the latest rental activity and trends for the Phoenix Metro area for January 2021… Closed Rental Units: 1,612 (5.23% decrease year over year) Median Lease Rate: $1,700 (9.68% increase year over year) Average Lease Rate: $1,882 (8.04% increase year over …

Continue reading “January 2021 Rental Market Update”

Here’s the latest rental activity and trends for the Phoenix Metro area for December 2020… Closed Rental Units: 1,672 (5.37% decrease year over year) Median Lease Rate: $1,725 (9.87% increase year over year) Average Lease Rate: $1,887 (10.42% increase year over year) Average Days on Market: 25 (21.88% decrease year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for November 2020… Closed Rental Units: 1,682 (13.48% decrease year over year) Median Lease Rate: $1,750 (12.98% increase year over year) Average Lease Rate: $2,021 (15.09% increase year over year) Average Days on Market: 22 (29.03% decrease year over year)

Here’s the latest rental activity and trends for the Phoenix Metro area for October 2020… Closed Rental Units: 1,819 (8.64% decrease year over year) Median Lease Rate: $1,725 (11.29% increase year over year) Average Lease Rate: $1,906 (10.43% increase year over year) Average Days on Market: 43 (38.71% increase year over year)

The Phoenix rental market continues to show strength.  Limited supply of available properties and strong demand continue to drive year-over-year rental appreciation. Check out recent rental activity and trends for the Phoenix Metro area for September 2020… Closed Rental Units: 1,722 (9.80% decrease year over year) Median Lease Rate: $1,700 (6.58% increase year over year) Average Lease …

Continue reading “September 2020 Rental Market Update”

Check out recent rental activity and trends for the Phoenix Metro area for August 2020… Closed Rental Units: 2,060 (8.36% decrease year over year) Median Lease Rate: $1,743 (9.28% increase year over year) Average Lease Rate: $1,937 (9.25% increase year over year) Average Days on Market: 25 (13.8% decrease year over year)