Tucson Rents Increased Again in March

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TUCSON, ARIZONA — Apartment List is reporting Tucson rents have increased over the past month.  Here are some of this month’s highlights for Tucson:

  • Rents in Tucson have increased 0.2% over the past month, and are up 1.9% year-over-year.
  • Tucson’s median two-bedroom rent of $954 is below the national average of $1,197.
  • Over 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.

Tucson rents increased slightly over the past month

Tucson rents have increased 0.2% over the past month, and have increased slightly by 1.9% in comparison to the same time last year. Currently, median rents in Tucson stand at $718 for a one-bedroom apartment and $954 for a two-bedroom. This is the fifth straight month that the city has seen rent increases after a decline in October of last year. Tucson’s year-over-year rent growth lags the state average of 3.5%, but is in line with the national average of 1.9%.

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, Gilbert is the most expensive of all Arizona’s major cities, with a median two-bedroom rent of $1,549; of the 10 largest cities in the state that we have data for, Surprise, where a two-bedroom goes for $1,355, is the only major city to see rents fall year-over-year (-1.1%).
  • Gilbert, Chandler, and Mesa have all experienced year-over-year growth above the state average (7.5%, 5.0%, and 4.8%, respectively).

Tucson rents more affordable than many comparable cities nationwide

As rents have increased slightly in Tucson, a few other large cities nationwide have seen rents grow more quickly. Tucson is still more affordable than most similar cities across the country.

  • Tucson’s median two-bedroom rent of $954 is below the national average of $1,197. Nationwide, rents have grown by 1.9% over the past year, which matches the increase in Tucson.
  • While Tucson’s rents rose slightly over the past year, the city of San Francisco saw a decrease of 0.2%.
  • Renters will find more reasonable prices in Tucson than most other large cities. For example, San Francisco has a median 2BR rent of $3,102, which is more than three times the price in Tucson.

For more information check out Apartment List’s national report. You can also access the full data for cities and counties across the U.S. at this link.

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