Wednesday, February 8, 2023 10:42 am

Why downtown Phoenix rents are soaring

By Catherine Reagor | Arizona Republic

Downtown Phoenix has gone from being an affordable area with only a few upscale apartments to one of the most expensive places to rent in the Valley in less than 20 years.

The area has drawn more new high-cost apartment high rises than any other part of metro Phoenix, and many more are planned.

Rent for a one-bedroom in The Stewart tower near Central Avenue and Roosevelt Street can top $2,000. And the monthly cost for a three-bedroom apartment in a high rise at 700 N. 4th Street is listed at more than $3,500.

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