By Mike Sunnucks | Phoenix Business Journal
Demand for rental homes remains strong in the Phoenix area.
Monthly rents are up and the supply of rental homes is down across metro Phoenix, according to Arizona State University economist and housing expert Michael Orr.
Orr, director of ASU’s Center for Real Estate Theory and Practice, said the average monthly rent for a single-family home is $1,548 up from $1,418 a year ago.