November 21, 2024 4:20 am
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SFRs: Where prices have increased in Arizona

By AZBigMedia

Rentometer has just released its Q3 2024 National Single-Family Rentals Report, which highlights significant trends in the U.S. single-family rental market. Are you wondering how much single-family rental prices in Arizona have increased?

Here are a few key takeaways regarding single-family rental prices in Arizona:

• National Rent Growth Slows: While single-family rental prices continued their upward trend, rising 3% year-over-year, growth has slowed compared to previous quarters.

• In the Southwest, single-family rent prices increased by 2.2% in Q3 2024, but many Arizona cities saw rent prices rise much faster than the regional average. In Scottsdale, the average rent for three-bedroom houses increased by 9% year-over-year, in Flagstaff and Tucson by 7%, and in Phoenix by 5%. On the other hand, several Arizona cities experienced annual declines in rent prices: Yuma saw a 6% decrease, while Gilbert and Buckeye dropped by 2%, and Maricopa by 1%.

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