December 18, 2024 10:54 am
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Here are the most (and least) expensive Valley neighborhoods for apartment renters

By Tim Gallen | Phoenix Business Journal

Thanks to a strong economy, the Valley’s apartment market continues to boom — resulting in rising rents for the new arrivals and established residents.

As with all real estate decisions, the cost of rent is determined by three things: location, location, location.

New data from Apartments.com reveals the 10 priciest Phoenix-area neighborhoods for renters. For the budget-conscious, the apartment-listing site also compiled a list of the 10 least expensive ‘hoods in which to rent.

“In general, Phoenix has a really hot apartment market right now,” said Jessica Morin, a market analyst with CoStar Group, which owns Apartments.com. She added the region is experiencing about a 7% year-over-year rent growth.

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