Here’s the latest rental activity and trends for the Phoenix Metro area for May 2023:
Closed Rental Units: 2,062 (3.41% increase year over year)
Median Lease Rate: $2,195 (0.23% decrease year over year)
Average Lease Rate: $2,371 (0.47% increase year over year)
Average Days on Market: 35 (40.00% increase year over year)