November 23, 2024 3:12 pm
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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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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.