Tucson rents fell 0.3% in March
TUCSON, AZ (April 2, 2024)—The Apartment List April 2024 Rent Report for Tucson reports that the overall median rent in the city is $1,085, roughly the same as last month. Prices remain up 0.6% 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.
Tucson rents are flat month-over-month and up 0.6% year-over-year
The median rent in Tucson fell by 0.3% for March and has increased by 0.6% over the past 12 months. Tucson’s rent growth over the past year has outpaced both state (-2.9%) and national (-0.8%) averages.
Tucson rent growth in 2024 pacing below last year
Three months into the year, rents in Tucson have fallen 0.7%. This is a slower rate of growth than what the city was experiencing at this point last year: from January to March 2023, rents increased 0.3%.
Tucson rents dropped 0.3% in the past month compared to the national rate of 0.6%. Among the nation’s 100 largest cities, this ranks #90. Similar monthly rent growth occurred in Santa Clarita, CA (-0.3%) and Oakland, CA (-0.3%).
Month-over-Month Rent Growth Among 100 Largest Cities In the U.S.
Citywide, the median rent currently stands at $906 for a 1-bedroom apartment and $1,162 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,085. That ranks #87 in the nation, among the country’s 100 largest cities.
For comparison, the median rent across the nation is $1,220 for a one-bedroom, $1,374 for a two-bedroom, and $1,388 overall. The median rent in Tucson is 21.8% lower than the national average and similar to the prices you would find in Lexington, KY ($1,088) and Memphis, TN ($1,083).
Median Overall Rent Among 100 Largest Cities In the U.S.
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 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 nationwide. Our approach corrects for the sample bias inherent in other private sources, producing results much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
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Apartment List publishes monthly rent reports and underlying data for hundreds of cities nationwide, as well as data aggregated for counties, metros, and states. These data are intended to be a reliable source of information that helps renters and policymakers make sound decisions. Insights from our data are regularly covered by journalists across the country. To access the data yourself, please visit our Data Downloads Page.