Rental activity and trends for the Phoenix Metro area as reported by Zillow Research – November 2024
The share of rental listings on Zillow offering a concession set a new record at 38.6% in November — the highest share in Zillow data beginning in April 2019. However, the increase from the prior month was only 0.9 percentage points, the smallest since July.
Typical Rent: $1,817 (0.8% increase year over year)
Single Family: $2,270 (2.7% increase year over year)
Multifamily: $1,559 (-0.8% change year over year)
Observed Rent Index – Phoenix
Single Family vs. Multifamily – Phoenix
Observed Rent Index – United States
