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.
