Affordable housing vanishing in Scottsdale

By Wayne Schutsky | Scottsdale Progress

The booming market for Scottsdale homes and apartments is compounding an existing housing affordability crisis in the city.

Over the past two years, the median sales price for a Scottsdale home jumped 27 percent to $745,000. Even historically-affordable 85257 in southern Scottsdale saw prices jump 32 percent to over $454,000 during that time.

Meanwhile the apartment rental market also saw median rents rise 8.6 percent over the past year citywide, according to Apartment List. Scottsdale currently has the highest median rent for a two-bedroom in the Valley at $1,640.

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