Apartment List is reporting Tucson rents increased over the past month. Here are the trends in the Tucson rental market, including comparisons to cities throughout the state and nation.
Tucson rents increase sharply over the past month
Tucson rents have increased 1.3% over the past month, and have increased sharply by 16.8% in comparison to the same time last year. Currently, median rents in Tucson stand at $1,022 for a one-bedroom apartment and $1,345 for a two-bedroom. The city's rents have been increasing for 27 straight months - the last time rents declined was in May 2020. Tucson's year-over-year rent growth leads the state average of 7.6%, as well as the national average of 10.0%.
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 7.6% 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, Surprise is the most expensive of all Arizona's major cities, with a median two-bedroom rent of $1,849; of the 10 largest Arizona cities that we have data for, all have seen rents rise year-over-year, with Tucson experiencing the fastest growth (+16.8%).
- Glendale, Mesa, and Phoenix have all experienced year-over-year growth above the state average (8.6%, 8.1%, and 7.8%, respectively).
Tucson rents more affordable than many similar cities nationwide
As rents have increased sharply in Tucson, a few comparable cities nationwide have seen rents grow more modestly. Tucson is still more affordable than most other large cities across the country.
- Tucson's median two-bedroom rent of $1,345 is slightly below the national average of $1,364. Nationwide, rents have grown by 10.0% over the past year compared to the 16.8% increase in Tucson.
- While Tucson's rents rose sharply over the past year, many cities nationwide also saw increases, including Miami (+18.7%), New York City (+16.6%), and Dallas (+13.8%).
- Renters will find more reasonable prices in Tucson than most comparable cities. For example, San Francisco has a median 2BR rent of $2,680, which is nearly twice the price in Tucson.
For more information check out Apartment List's national report. You can also access our full data for cities and counties across the U.S.