Phoenix Becoming a Pricier Place to Live Article originally posted on Phoenix Business Journal on February 7, 2019 Rising rents and home prices are starting to strain the Valley’s long-touted affordability sales pitch. According to the S&P CoreLogic Case-Shiller Index, home appreciation in the greater Phoenix area jumped 8.1 percent from November 2017 to November 2018. That rate pushed Phoenix past Seattle, and the Valley remains behind only Las Vegas for the rate of rising home prices. Also, apartment rents in Phoenix and other Valley cities continue to surge. Rents in Phoenix rose 7.6 percent year over year in January, according to RentCafe, while Chandler (9.6 percent), Glendale (9.5 percent), Mesa (8.4 percent), Peoria (8.1 percent), and Gilbert (7.9 percent) all posted even higher year-over-year increases. The region remains comparatively affordable to other major metros, but if rents and home prices continue to climb at current rates without substantial wage growth, that will put the squeeze on lower-paid workers, which, even with the region’s healthy job growth, continue to fill the majority of newly created jobs.