October Rents in Tucson up 2.2% over past month

TUCSON, ARIZONA -- Apartment List is reporting this month the national rent index jumped another 2.1%, and rents are now up by a total of 15% since this time last year. Rent growth has cooled slightly from its July peak, but we’re still seeing significant price gains at a time when seasonality in the market normally causes a dip in rents.

Rents are still increasing in nearly all of the nation’s 100 largest cities, but with Boise, ID and Spokane, WA marking notable exceptions where rents dipped this month. These markets have seen some of the nation’s fastest growing rents over the past year, but it appears that they may have hit their peaks. Among the 100 largest cities, there are now just 5 remaining where rents are still below pre-pandemic levels.

Here are some highlights:

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 27.0% 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 $1,956; of the 10 largest Arizona cities that we have data for, all have seen rents rise year-over-year, with Tempe experiencing the fastest growth (+32.1%).
• Scottsdale, Chandler, and Peoria have all experienced year-over-year growth above the state average (31.9%, 29.1%, and 28.6%, respectively).

Tucson rents more affordable than many other large cities nationwide. Check out the full Tucson report here.