Phoenix Rents Continue Rising Faster Than National Average

Apartment rental prices in Phoenix have been on a steady climb, inching up 0.2 percent in August compared to the previous month and 4.9 percent above August 2016, according to a report today from Apartment List, a rental search site. Across the nation rents rose 3.0 percent, year over year.

The median rent for a one-bedroom apartment in Phoenix was $820, and $1,020 for a two-bedroom. Phoenix’s prices are the cheapest of 10 large cities in the Valley.

The report does not break out data for North Phoenix neighborhoods.


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Gilbert has the highest rents of any metro-area big city, with a median price of $1,370 for a two-bedroom. Mesa saw the sharpest year-over-year hike, of 6.3 percent.

For comparison, a median-priced two-bedroom in San Francisco runs $3,070.

Phoenix’s population is the fastest-growing of any city in the nation, something Mayor Greg Stanton attributes in part to a healthy local job market. Simultaneously, a rapid pace of home sales this year has created a tight supply of inventory, especially at the lower end of the price range where potential first-time homebuyers may be looking to switch from renting to owning.

Staff Writers

North Phoenix News staff writers and editors often work together to produce articles like this one.


Staff Writers

North Phoenix News staff writers and editors often work together to produce articles like this one.

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