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Average Phoenix rents reach new high, report states

Posted by   /  March 20, 2017  /  No Comments

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Peak 16 is located near the Camelback Corridor in uptown Phoenix. Construction started on the luxury apartments in November. /Photo courtesy of VanTrust Real Estate

By AZRE

Phoenix’s average rent reached a new high this past February at $976 compared to 2016’s February average rent at $935, according to Axiometrics an apartment and student housing analytics firm.

The Phoenix annual effective rent growth for February is at 4.4 percent, with a 94.6 percent occupancy rate in Phoenix, according to the report. The average rent increased $8 in February, the largest month-over-month change in the Phoenix market since April 2016.

Rent growth has fallen in the Phoenix area between January and February by .7 percent, according to Axiometrics.

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  • Published: 4 months ago on March 20, 2017
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  • Last Modified: March 20, 2017 @ 4:51 pm
  • Filed Under: Real Estate

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