A recent RentCafe report found Phoenix has emerged as a top metro (#25) for hyper-renter mobility. This ranking was based on key metrics tracked over a five-year period.
Here’s why:
- Local trends for short renter tenancies: 46% of Phoenix’s renter population switch apartments in less than two years.
- Hyper-mobility in the metro on the rise: 2.3% increase in very frequent moves over five years.
- High demand: 30% of Phoenix residents are renters (after a 7.9% decrease in its renter population)
- Growing rental housing supply: 2.9% increase in rental units
- High hyper-mobility by generation: More than two-thirds (71%) of Gen Z renters and half (51%) of Millennials are move very frequently.
