Metro Phoenix rents climb three times as fast as U.S. average

By Catherine Reagor | The Republic

Metro Phoenix rents climbed nearly three times as fast as the average U.S. increase during the past 12 months, despite a slight reprieve for tenants last month.

Apartment rents flattened but didn’t plummet in metro Phoenix during April, as thousands of tenants struggled to pay or move due to lost jobs or furloughs during the COVID-19 crisis.

Phoenix-area renters still saw their monthly payments jump 8.1% during the past year, compared to 2.9% nationally, according to Colliers International.

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