High valley rents may soon decline [VIDEO]

By Katey Rusch, 12 News

If you’ve lived in Phoenix in the last five years you’ve probably noticed rent is on the rise.

One bedroom in a downtown apartment used to cost you $800 per month, now you’re lucky to get it for $1200.

In fact, according to Zillow, Phoenix has one of the fasting rising rents in the country up 5.4 percent this year.

Will it soon level off? Some valley experts say yes.

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