Rent prices expected to rise in Phoenix area

Dec 15, 2014, 9:14 PM | Updated: 9:15 pm
...

The cost of rent in the Valley rose in 2014 and that’s not expected to change when the calendar does.

According to Arizona State’s W.P. Carey School of Business, rent was up 5.7 percent in the Phoenix area last year.

This trend comes while the housing market is relatively flat, with home prices down 2 percent and leases being signed doubly as commonly as home sales last month. (A recent forecast of housing market trends seems to indicate a change on the horizon for Phoenix.)

Information in a Phoenix Business Journal story shows that apartment construction isn’t slowing, with construction projects on more than 8,000 apartments being recently completed or approaching completion.

We want to hear from you.

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

Arizona News

(Twitter File Photo/@PhoenixPolice)...
KTAR.com

Phoenix police fatally shoot robbery suspect after car chase

Police in Phoenix said they fatally shot an armed robbery suspect after a car chase late Tuesday night.
7 hours ago
(AP Photo/Matt York, File)...
SuElen Rivera

Former Arizona AG says not certifying an election is a criminal violation

Former Arizona Attorney General Terry Goddard on Tuesday said there are criminal consequences for those who neglect to certify an election.
7 hours ago
(Facebook Photo/Mici Italian)...
KTAR.com

Mici Italian restaurant to open second Valley location in Queen Creek

Colorado-based restaurant Mici Italian is preparing to open its second Valley location in Queen Creek sometime during the winter. 
7 hours ago
(Photo by Jeff Topping/Getty Images)...
KTAR.com

Palo Verde nuclear power plant west of Phoenix to test emergency sirens

Emergency sirens designed to alert nearby residents of a problem at the nuclear power plant far west of downtown Phoenix will be tested Wednesday, officials said.
7 hours ago
(Indicap Rendering)...
KTAR.com

Developers break ground on 113-acre industrial park in Mesa

Developers have broken ground on a 113-acre industrial park in Mesa that will be home to more than 1.6 million square feet.
7 hours ago
(City of Avondale Photo)...
KTAR.com

Avondale starts month of holiday festivities Saturday with WinterFest

Avondale will kick off a month of holiday festivities Saturday night with WinterFest, family-friendly event at the Civic Center amphitheater.
7 hours ago

Sponsored Articles

...
Day & Night Air Conditioning, Heating and Plumbing

Prep the plumbing in your home just in time for the holidays

With the holidays approaching, it's important to know when your home is in need of heating and plumbing updates before more guests start to come around.
...
Quantum Fiber

How high-speed fiber internet can improve everyday life

Quantum Fiber supplies unlimited data with speeds up to 940 mbps, enough to share 4K videos with coworkers 20 times faster than a cable.
...
SCHWARTZ LASER EYE CENTER

Key dates for Arizona sports fans to look forward to this fall

Fall brings new beginnings in different ways for Arizona’s professional sports teams like the Cardinals and Coyotes.
Rent prices expected to rise in Phoenix area