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

“39.8% of rentals on Zillow offered concessions this spring — up 5 percentage points from a year ago, according to a new Zillow analysis.“

“A year ago, roughly 1 in 3 rental listings offered a concession. Before the pandemic, it was closer to 1 in 6. The shift reflects a market where supply has outpaced demand.”

Typical Rent:  $1,741 (-0.7% change year over year)

Single Family: $2,296 (0.6% change year over year)

Multifamily: $1,524 (-1.9% change year over year)

Observed Rent Index – Phoenix

Rental Demand – Phoenix

Single Family vs. Multifamily – Phoenix

Affordability – Phoenix

Observed Rent Index – United States