Valley rents have surged 72% over 12 years and nearly half of all Arizona renters have been cost-burdened, according to a recent study by the Arizona Research Center for Housing Equity and Sustainability.
The study — paid for by a $3 million U.S. Department of Housing and Urban Development grant — said the number of people moving to the state combined with housing supply not meeting demand are some of the factors contributing to Arizona’s current housing shortage, the August study stated.
Experts from four universities — Arizona State University, the University of Arizona, Northern Arizona University and the University of New Mexico — all contributed to the research.
