PHOENIX — Winter visitors to Arizona should have little trouble finding a place to live, a local home rental service said.
Winter visitors have a double-dose of good news this year: rent prices have stayed relatively stable for a couple of years and there are plenty of places available.
Donovan Reese with Renters Warehouse in Phoenix said home prices continue to climb but rental costs have remained the same with a few exceptions.
“Prices are coming up a little bit in Chandler, Gilbert and Scottsdale,” he said. “Outlying areas are seeing a drop in rental rates.” He added there are plenty of furnished condos for long-term rental.
Valley economist Jim Rounds said there is no shortage of rental homes available, both single-family and multifamily.
Reese said many of the investors who snatched up foreclosed homes are ready to put them back on the market; not to sell, but to rent.