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Phoenix Metro Report: July 2017

The Zumper Phoenix Metro Report analyzed active listings in June across 13 metro cities to show the most and least expensive cities and cities with the fastest growing rents.

Cities Ranked By Rent

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The Most Expensive

– Scottsdale, AZ rent stayed stable since last month at $1,200 and held onto its position as the most expensive in the metro.

– Gilbert, AZ saw rent drop $30 to $990 but remained the second most expensive city.

Peoria, AZ climbed 2 spots this month to rank as third with rent at $970.

The Least Expensive

Florence, AZ had the most affordable rent in the metro with one bedroom units priced at $490.

Casa Grande, AZ, only $20 more than Florence, ranked as the second least expensive city with rent at $510.

Glendale, AZ was third at $690.

Growth Rate

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The Fastest Growing (Y/Y%)

Tempe, AZ rent saw a 10.6% yearly growth rate, making it the fastest growing in the metro.

Scottsdale, AZ was close behind with rents climbing 9.1%.

Peoria, AZ ranked as third with rent up 9% since this time last year.

The Fastest Growing (M/M%)

Peoria, AZ also made it onto the fastest growing rent on a monthly basis with one bedrooms up 4.3%.

PhoenixMetro

Full Data

One Bedroom Two Bedrooms
Pos. City Price M/M % Y/Y % Price M/M % Y/Y %
1 Scottsdale $1,200 0.00% 9.10% $2,000 0.00% 5.30%
2 Gilbert $990 -2.00% 4.20% $1,340 3.10% 3.10%
3 Peoria $970 4.30% 9.00% $1,220 -1.60% 15.10%
4 Chandler $960 1.10% 4.30% $1,160 -0.90% 4.50%
5 Tempe $940 -2.10% 10.60% $1,180 2.60% 13.50%
6 Goodyear $930 0.00% 5.70% $1,500 -1.30% -11.20%
7 Surprise $900 0.00% 0.00% $1,550 -3.10% 14.80%
8 Phoenix $880 -1.10% 8.60% $1,080 0.00% 6.90%
9 Avondale $830 0.00% 3.80% $990 -2.90% 3.10%
10 Mesa $800 0.00% 3.90% $980 1.00% 2.10%
11 Glendale $690 -1.40% 4.50% $900 0.00% 0.00%
12 Casa Grande $510 2.00% -1.90% $640 -3.00% 8.50%
13 Florence $490 -5.80% -10.90% $750 5.60% -13.80%

About

The Zumper Phoenix Metro Report analyzed active listings that hit the market in June 2017. Listings are aggregated by city to calculate median asking rents.

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Source: The Zumper Blog

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