Renting in the Valley isn’t going to get any easier as inflation and unit scarcity continue to drive prices higher, according to local leasing experts.
Kristin Miller, an outgoing property manager for a Peoria neighborhood rental property, said new residents can expect to pay higher monthly costs because they are paying the unit’s market value.
And those who currently have leases may be in for a shock when their next contract comes up. Some current residents can expect to pay 20% or more than what they currently pay if the tenants decide to renew their lease.
