Rental prices across the Phoenix metropolitan area are showing changes as a large influx of new housing supply meets market demand, according to the latest market data.
The Zumper Phoenix Metro Report released this month shows the median rent for a one-bedroom apartment in Arizona is $1,232. While some areas maintain higher price points, several submarkets are experiencing year-over-year price drops, altering the landscape for both landlords and tenants.
The report highlights a range of affordability across the Valley. Flagstaff is the most expensive market for renters, with one-bedroom units averaging $1,700 per month, followed by Scottsdale at $1,690 and Gilbert at $1,550.