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Phoenix has highest apartment rent increase in country

Posted by   /  February 18, 2020  /  No Comments

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City of Phoenix. / Twitter.

By Mike Sunnucks | Rose Law Group Reporter

Phoenix apartment rents increased the most of any large U.S. city over the past year. That is according to January numbers from RentCafe.com

Apartment rents in Phoenix averaged $1,119 per month in January. That is up 8.3 percent from a year ago and the most of any large U.S. market.

Rents in Las Vegas were up 5.8 percent, according to RentCafe.

Apartment rents in Scottsdale averaged $1,564 per month up 6 percent since last year. Tempe rents are up 8.1 percent and average $1,434 per month.

Rents are also up 8.7 percent in Mesa ($1,088 per month), 8.6 percent in Chandler ($1,390 per month) and 6.9 percent in Glendale ($1,019 per month).

The national average apartment rent stands at $1,463 per month. That is up 3 percent.

Rents range from $4,210 per month in Manhattan to $662 per month in Wichita, Kansas.

For more:

https://www.rentcafe.com/blog/rental-market/apartment-rent-report/january-2020-national-rent-report/

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