November 21, 2024 3:58 pm
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While Phoenix ranks high in rent growth, rent remains affordable

AZBigMedia

A recent report found that Phoenix ranked 7th nationally among the top 10 metropolitan areas for rent growth in Q4 2017. During that time, the city saw a 4.4 percent rate hike, continuing its trend of reported rent increases above 4 percent for almost four years. 

State business experts said this hike is a result of a robust apartment market that continues to grow, fueled by an active construction market that keeps up with apartment demand from an influx of new, young residents into the city. 

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