GITNUX MARKETDATA REPORT 2024

Phoenix Rental Market Statistics [Fresh Research]

Statistic 1

"As of February 2022, Phoenix ranked as the 10th most expensive city for renters in the Southwest."

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Statistic 2

"1-bedroom rentals in Phoenix have an average rent of $1,180 while 2-bedroom apartments average at $1,420."

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Statistic 3

"During the pandemic, Phoenix rental market experienced a 15.2% growth rate in 2021."

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Statistic 4

"As of January 2022, Phoenix has a 95.2% apartment occupancy rate."

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Statistic 5

"Over the past year, rent prices increased the most in the central Scottsdale area."

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Statistic 6

"45.5% of residents in Phoenix are renters."

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Statistic 7

"Phoenix apartment rents have increased by 0.1% month over month."

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Statistic 8

"Only 9% of millennials in Phoenix own a house, with the majority opting for rental properties."

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Statistic 9

"Phoenix is ranked as the 37th best place to invest in rental property."

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