Phoenix’s Median Rent Grew by Nearly 46% in A Year, Report Says

Article originally posted on Phoenix Business Journal on September 19, 2022

The Phoenix metro’s median rent has increased by 45.6% in the past year, ranking the Valley at No. 38 in a list of the most expensive cities in the U.S., according to a recent nationwide rent report.

But it was another Arizona city that saw the highest rate of rent growth in the nation over the past year. Tucson’s rent prices surged by a whopping 124%, soaring to an average of $1,980 in August — which was $1,096 more than a year earlier — according to a new report from Dwellsy, a rental listing company based in Los Altos, California.

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