Metro Phoenix leads U.S. for rent increases, again

By Catherine Reagor | Arizona Republic

After dipping in some Valley cities during May and June, apartment rents rebounded in July, according to new data.

Last month’s increase is a troubling trend since rents in metro Phoenix have climbed much faster than average incomes in the region during the past five years.

Most of the new apartments built in the Valley during the past few years are luxury complexes that most of the area’s renters can’t afford.

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