TUCSON, ARIZONA -- Apartment List is reporting Tucson rents increased 3.8% in July, and have increased sharply by 22.2% in comparison to the same time last year. The Tucson rental market, including comparisons to cities throughout the state and nation is evaluated in the report.
Tucson rents increase sharply over the past month
Tucson rents have increased 3.8% over the past month, and have increased sharply by 22.2% in comparison to the same time last year. Currently, median rents in Tucson stand at $1,009 for a one-bedroom apartment and $1,327 for a two-bedroom. The city's rents have been increasing for 25 straight months - the last time rents declined was in May 2020. Tucson's year-over-year rent growth leads the state average of 15.8%, as well as the national average of 14.1%.
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 15.8% 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, Surprise is the most expensive of all Arizona's major cities, with a median two-bedroom rent of $1,858; of the 10 largest Arizona cities that we have data for, all have seen rents rise year-over-year, with Tucson experiencing the fastest growth (+22.2%).
- Glendale, Phoenix, and Mesa have all experienced year-over-year growth above the state average (19.0%, 17.1%, and 16.8%, respectively).
Tucson rents more affordable than many other large cities nationwide
As rents have increased sharply in Tucson, a few comparable cities nationwide have seen rents grow more modestly. Tucson is still more affordable than most similar cities across the country.
- Tucson's median two-bedroom rent of $1,327 is slightly below the national average of $1,339. Nationwide, rents have grown by 14.1% over the past year compared to the 22.2% increase in Tucson.
- While Tucson's rents rose sharply over the past year, many cities nationwide also saw increases, including New York City (+26.8%), Miami (+25.2%), and Dallas (+17.0%).
- Renters will find more reasonable prices in Tucson than most other large cities. For example, San Francisco has a median 2BR rent of $2,636, which is nearly 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.