(May 3, 2024) -- Apartment List May 2024 Rent Report for Tucson, AZ is reporting the overall median rent in the city stands at $1,087, roughly the same as last month. Prices and are now up 0.3% 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.
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Rents in Tucson increased 0.1% in April, compared to a 0.5% increase nationwide.
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Year-over-year rent growth in Tucson now stands at +0.3%, down from +2.2% one year ago.
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Today the median rent in Tucson is $907 for a one-bedroom unit and $1,164 for a two-bedroom unit. And the citywide apartment vacancy rate stands at 6.9%, up 0.9 percentage points from this time last year.
Tucson rents are flat month-over-month and flat year-over-year
The median rent in Tucson rose by 0.1% over the course of April, and has now increased by a total of 0.3% over the past 12 months. Tucson’s rent growth over the past year has has outpaced both state (-2.7%) and national (-0.8%) averages.
Tucson rent growth in 2024 pacing below last year
Four months into the year, rents in Tucson have fallen 0.8%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 0.5%.
Tucson rents went up 0.1% in the past month, compared to the national rate of 0.5%. Among the nation's 100 largest cities, this ranks #82. Similar monthly rent growth took place in Las Vegas, NV (0.1%) and Norfolk, VA (0.0%).
Month-over-Month Rent Growth Among 100 Largest Cities In the U.S.
Citywide, the median rent currently stands at $907 for a 1-bedroom apartment and $1,164 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,087. That ranks #89 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,226 for a 1-bedroom, $1,381 for a 2-bedroom, and $1,396 overall. The median rent in Tucson is 22.2% lower than the national, and is similar to the prices you would find in St. Louis, MO ($1,087) and Memphis, TN ($1,083).
Median Overall Rent Among 100 Largest Cities In the U.S.
Methodology
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 nationwide. 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.
Data Access
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 source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.