Rents jump in Scottsdale; landlords flipping

Chazal ScottsdaleBy Mike Sunnucks | Phoenix Business Journal

Apartment rents have jumped in South Scottsdale as the area sees more new complexes, other developments and job gains.

A new analysis of the multifamily marketplace by the Marcus & Millichap real estate firm finds apartment rents in South Scottsdale at $1,119 per month, up 13.5 percent from a year ago.

That puts the South Scottsdale area among the most expensive rental submarkets in the metro along with downtown Phoenix and Tempe, at $1,290 and $1,149 per month, respectively.

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