A local housing analyst said Valley rents have increased about 23% year-over-year since 2021 as some tenants continue to see lease costs climb.
According to Thomas Brophy, housing analyst at Colliers in Phoenix, the increase factors in the average rent of all multifamily units regardless of whether its one- or two-bedroom units.
A new report from Apartment List says rents in Phoenix increased 0.4% month-over-month in February, compared with a 0.6% decrease nationally with median rent and price growth data Month-over-month growth in Phoenix ranks No. 56 among the nation’s 100 largest cities, the report said.
