The Phoenix rental market continues to show strength. Limited supply of available properties and strong demand continue to drive year-over-year rental appreciation.
Check out recent rental activity and trends for the Phoenix Metro area for September 2020…
Closed Rental Units: 1,722 (9.80% decrease year over year)
Median Lease Rate: $1,700 (6.58% increase year over year)
Average Lease Rate: $1,893 (7.86% increase year over year)
Average Days on Market: 25 (7.41% decrease year over year)
Related: Phoenix Tops Single-Family Rent Index
