Rental projects have spouted across the Valley this decade and are, for the moment, causing the price of rental properties in Maricopa County to drop.
The most recent data from Maricopa Association of Governments indicates an overall median rent of $1,550 a month in Maricopa County.
This is a decrease of 4% from the figure in the second quarter of 2022. Prices throughout the Valley are on average flat to slightly down but it depends on where renters are the type of property being rented, stated Mark Stapp, a professor at Arizona State University and director of W. P. Carey Master of Real Estate Development, in an email.
