Rental activity and trends for the Phoenix Metro area as reported by Zillow Research

“Renters are gaining leverage as new supply comes online, and that dynamic is expected to continue..“

“As apartment construction expands and more single-family homes enter the rental market, property managers are increasingly competing on price and incentives.”

Typical Rent:  $1,724 (-0.7% change year over year)

Single Family: $2,258 (1.0% increase year over year)

Multifamily: $1,508 (-2.0% change year over year)

Observed Rent Index – Phoenix

Single Family vs. Multifamily – Phoenix

Observed Rent Index – United States