TUCSON, ARIZONA, March 1, 2023 -- Apartment List is reporting the March 2023 Rent Report for Tucson, AZ. Currently, the overall median rent in the city stands at $1,249, roughly the same as last month. Prices and are now up 5.2% year-over-year. Read on to learn more about what’s been happening in the Tucson rental market and how it compares to trends throughout the nation as a whole.
Tucson rents are flat month-over-month and up 5.2% year-over-year
The median rent in Tucson rose by 0.1% over the course of February, and has now increased by a total of 5.2% over the past 12 months. Tucson’s rent growth over the past year has has outpaced both state (-2.2%) and national (3.0%) averages.
Tucson rent growth in 2023 pacing below last year
Two months into the year, rents in Tucson have risen 0.1%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to February 2022 rents had increased 1.2%.
February rent growth in Tucson ranked #58 among large U.S. cities
Tucson rents went up 0.1% in the past month, compared to the national rate of 0.3%. Among the nation's 100 largest cities, this ranks #58. Similar monthly rent growth took place in Los Angeles, CA (0.1%) and Kansas City, MO (0.1%).
Tucson is the #68 most expensive large city in the U.S., with a median rent of $1,249
Citywide, the median rent currently stands at $988 for a 1-bedroom apartment and $1,299 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,249. That ranks #68 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,152 for a 1-bedroom, $1,320 for a 2-bedroom, and $1,343 overall. The median rent in Tucson is 7.0% lower than the national, and is similar to the prices you would find in Reno, NV ($1,251) and Corpus Christi, TX ($1,222).
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.