Gen Z professionals have entered the workforce, but with this new era of independence comes major financial decisions, like finding the best choice of housing for their budgets and lifestyles.
National rent prices have been on the rise with very few dips in the median price since 2021, according to data from Rent.com’s July 2023 rent report. As of June 2023, the median national rent was reported to be $2,029 per month.
But in Arizona, Rent.com found that rent prices declined by almost 5% this June compared to the previous year. Median rent in Phoenix for the last month came to $2,111 — a 2% decrease from last year and 0.3% decrease from May to June.
