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Phoenix Is the Nation’s Second-Hottest Rental Market

Posted by   /  December 20, 2018  /  No Comments

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By Steven Hsieh | Phoenix New Times

Don’t be surprised if your landlord raises your rent next year.

The Phoenix metro area this year had the second-fastest growing average rent prices in the United States, surpassing $1,000 for the first time, according to a report from RentCafe, the apartment listings and trends website.

Monthly prices for rental units in Phoenix grew 7.7 percent in 2018, $72 more than what renters were paying this time last year. That’s more than any other large metro area besides Las Vegas. The increase represents a significant tick for the Valley of the Sun, which did not even crack the top five hottest rental markets in 2017.

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