Phoenix has fastest-growing rents in the country

Jul 2, 2019, 4:24 AM | Updated: 9:47 am

(KTAR News/Matt Bertram)...

(KTAR News/Matt Bertram)

(KTAR News/Matt Bertram)

PHOENIX — The temperatures aren’t the only things rising in the Valley this summer.

Phoenix had the fastest-growing rents in the nation during the second quarter of 2019, according to HotPads’ latest quarterly rent report of the nation’s 50 largest metro areas.

Phoenix’s median rent was $1,545 per month, a 6.9% increase from the same time in 2018.

The increase was even steeper when looking only at one-bedroom apartments.

The median rent for a one-bedroom apartment was $1,170, up 7.9% from a year ago.

The heavy increase could be due in part to the time of year. HotPads, which is owned by Zillow Group, said rent prices typically peak in the late spring and early summer.

Even so, renters in Phoenix are paying about the national average.

The national median rent was exactly the same as Phoenix’s at $1,545 but only saw 3.2% growth from last year.

Several other western cities saw fast-growing rent, including Las Vegas (6.8%), Riverside, California (5.8%) and Salt Lake City (4.7%).

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Booking photo of Raul Perez Ochoa and a file photo of a Gilbert Police Department cruise. Ochoa, an...

East Valley massage therapist accused of sexual offenses

An East Valley massage therapist accused of sexual offenses was arrested last week, and police are looking for more possible victims.

14 hours ago

Stock image of a Fourth of July fireworks display. The Fabulous Phoenix 4th fireworks show and Four...

Kevin Stone

Boom, it’s back: Fabulous Phoenix 4th fireworks show returns after 3-year hiatus

The Fabulous Phoenix 4th fireworks show and festival is returning this year for the first time since the COVID-19 pandemic, the city announced.

14 hours ago

(Extended Stay America Photo)...

2 detained after stabbing incident at extended stay hotel near Old Town Scottsdale

Two people were detained Sunday evening following a stabbing incident at an extended stay hotel near Old Town Scottsdale, authorities said.

14 hours ago

Booking photo of Martin Oliver and file photo of a Phoenix Police Department cruiser. Oliver was ar...

Man arrested after breaking into Phoenix apartment, shooting at officers

A man was arrested Sunday afternoon after breaking into an apartment near downtown Phoenix and barricading himself inside, authorities said.

14 hours ago

Stock image of police tape and file photo of a Glendale, Arizona, police department cruiser....

Suspect at-large after 1 killed, 2 injured in Glendale triple-shooting

Police are trying to locate the person who shot three people, killing one, in Glendale on Sunday afternoon.

14 hours ago

Follow @KTAR923...

SR 87 northeast of metro Phoenix reopens after shutting down due to brush fire

A brush fire northeast of metro Phoenix temporarily shut down State Route 87 on Sunday as crews worked to contain the blaze, authorities said.

14 hours ago

Sponsored Articles



Here are the biggest tips to keep your AC bill low this summer

PHOENIX — In Arizona during the summer, having a working air conditioning unit is not just a pleasure, but a necessity. No one wants to walk from their sweltering car just to continue to be hot in their home. As the triple digits hit around the Valley and are here to stay, your AC bill […]


OCD & Anxiety Treatment Center

How to identify the symptoms of 3 common anxiety disorders

Living with an anxiety disorder can be debilitating and cause significant stress for those who suffer from the condition.

(Photo: OCD & Anxiety Treatment Center)...

OCD & Anxiety Treatment Center

Here’s what you need to know about OCD and where to find help

It's fair to say that most people know what obsessive-compulsive spectrum disorders generally are, but there's a lot more information than meets the eye about a mental health diagnosis that affects about one in every 100 adults in the United States.

Phoenix has fastest-growing rents in the country