TUCSON, ARIZONA - September 28, 2022 -- Apartment List is reporting Tucson rents declined over the past month. In this report, we'll evaluate trends in the Tucson rental market, including comparisons to cities throughout the state and nation.
Tucson rents decline sharply over the past month
Tucson rents have declined 1.6% over the past month, but have increased sharply by 11.5% in comparison to the same time last year. Currently, median rents in Tucson stand at $1,004 for a one-bedroom apartment and $1,320 for a two-bedroom. Tucson's year-over-year rent growth leads the state average of 3.5%, as well as the national average of 7.5%.
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, 9 of them have seen prices rise. The state as a whole logged rent growth of 3.5% 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 $1,855; of the 10 largest cities in the state that we have data for, Gilbert, where a two-bedroom goes for $1,725, is the only major city to see rents fall year-over-year (-0.5%).
- Tucson, Glendale, and Mesa have all experienced year-over-year growth above the state average (11.5%, 4.4%, and 4.2%, respectively).
Tucson rents more affordable than many similar cities nationwide
As rents have increased sharply in Tucson, a few other large cities nationwide have seen rents grow more modestly. Tucson is still more affordable than most comparable cities across the country.
- Tucson's median two-bedroom rent of $1,320 is slightly below the national average of $1,360. Nationwide, rents have grown by 7.5% over the past year compared to the 11.5% increase in Tucson.
- While Tucson's rents rose sharply over the past year, many cities nationwide also saw increases, including Miami (+15.6%), Dallas (+12.3%), and New York City (+12.1%).
- Renters will find more reasonable prices in Tucson than most other large cities. For example, San Francisco has a median 2BR rent of $2,673, which is more than twice the price in Tucson.
For more information check out our national report. You can also access our full data for cities and counties across the U.S.