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.