Tucson rents increase sharply over the past month
Apartment List is reporting Tucson rents have increased 0.8% over the past month, and have increased sharply by 6.3% in comparison to the same time last year. Currently, median rents in Tucson stand at $813 for a one-bedroom apartment and $1,086 for a two-bedroom. This is the eighth straight month that the city has seen rent increases after a decline in March. Tucson’s year-over-year rent growth leads the state average of 4.4%, as well as the national average of -1.3%.
Rents rising across cities in Arizona
Throughout the past year, rent increases have been occurring not just in the city of Tucson, but across the entire state. Of the largest 10 cities that we have data for in Arizona, all of them have seen prices rise. The state as a whole logged rent growth of 4.4% over the past year. Here’s a look at how rents compare across some of the largest cities in the state.
- Looking throughout the state, Scottsdale is the most expensive of all Arizona’s major cities, with a median two-bedroom rent of $1,515; of the 10 largest Arizona cities that we have data for, all have seen rents rise year-over-year, with Surprise experiencing the fastest growth (+8.3%).
- Glendale, Gilbert, and Mesa have all experienced year-over-year growth above the state average (8.1%, 6.6%, and 6.5%, respectively).