Tucson rents have remained flat over the past month, however, they are up slightly by 1.8% year-over-year. Currently, median rents in Tucson stand at $712 for a one-bedroom apartment and $946 for a two-bedroom. Tucson's year-over-year rent growth lags the state average of 3.5%, but exceeds the national average of 1.4%.
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, all 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 $1,477; of the 10 largest Arizona cities that we have data for, all have seen rents rise year-over-year, with Tempe experiencing the fastest growth (+6.2%).
- Chandler, Mesa, and Gilbert have all experienced year-over-year growth above the state average (5.9%, 4.4%, and 4.0%, respectively).
Tucson rents more affordable than many similar cities nationwide
As rents have increased slightly in Tucson, a few comparable cities nationwide have also seen rents grow modestly. Tucson is still more affordable than most other large cities across the country.
- Tucson's median two-bedroom rent of $946 is below the national average of $1,189. Nationwide, rents have grown by 1.4% over the past year compared to the 1.8% rise in Tucson.
- While Tucson's rents rose slightly over the past year, many cities nationwide also saw increases, including Dallas (+1.8%), Atlanta (+1.6%), and New York (+1.5%).
- Renters will find more reasonable prices in Tucson than most similar cities. For example, San Francisco has a median 2BR rent of $3,131, which is more than three times the price in Tucson.