{"id":703810,"date":"2026-04-04T07:27:20","date_gmt":"2026-04-04T07:27:20","guid":{"rendered":"https:\/\/www.europesays.com\/us\/703810\/"},"modified":"2026-04-04T07:27:20","modified_gmt":"2026-04-04T07:27:20","slug":"rent-prices-dropping-across-phoenix-metro-area-heres-why","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/703810\/","title":{"rendered":"Rent prices dropping across Phoenix metro area: Here&#8217;s why"},"content":{"rendered":"<p> <img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/04\/gtpwh2xh8y72jwkw.jpg\" alt=\"Rent prices falling across Phoenix area: Report\" class=\"sr-only\" data-v-4292be72=\"\"\/>    <\/p>\n<p data-v-f1afc186=\"\"><strong>PHOENIX<\/strong> &#8211; A new report shows the price of rent across the Phoenix area is falling, something that many have been waiting for.<\/p>\n<p original-article-post=\"\" origination_station=\"KSAZ\" data-v-ec26887a=\"\" data-v-f1afc186=\"\">By the numbers:<\/p>\n<p data-v-f1afc186=\"\">A new Phoenix metro report from Zumper shows rent prices are dropping in nearly every city across the Valley. Their data include the average rent for a one-bedroom in the following Valley cities, and their decline from 2025.<\/p>\n<ul original-article-post=\"\" origination_station=\"KSAZ\" data-v-03e8ff79=\"\" data-v-f1afc186=\"\">\n<li class=\"article-ct\" data-v-03e8ff79=\"\">Glendale: Down more than 14%<\/li>\n<li class=\"article-ct\" data-v-03e8ff79=\"\">Phoenix: Down just over 6%<\/li>\n<li class=\"article-ct\" data-v-03e8ff79=\"\">Tempe: Down just over 2%<\/li>\n<\/ul>\n<p original-article-post=\"\" origination_station=\"KSAZ\" data-v-ec26887a=\"\" data-v-f1afc186=\"\">What they&#8217;re saying:<\/p>\n<p data-v-f1afc186=\"\">We asked two renters on what they think about their rent.<\/p>\n<p data-v-f1afc186=\"\">&#8220;I&#8217;m paying like $2,300 a month for a one-bedroom, 700 square feet. Yeah, it&#8217;s just too much,&#8221; said Tempe renter Arian Afshar.<\/p>\n<p data-v-f1afc186=\"\">&#8220;I have it lucky. It&#8217;s so cheap. I have a two-bedroom, two-story townhome, and it&#8217;s like $1,100 a month,&#8221; said one renter in Phoenix.<\/p>\n<p original-article-post=\"\" origination_station=\"KSAZ\" data-v-ec26887a=\"\" data-v-f1afc186=\"\">Local perspective:<\/p>\n<p data-v-f1afc186=\"\">We asked Mark Stapp of the W.P. Carey Center for Real Estate and Finance at Arizona State University on why rent is falling.<\/p>\n<p data-v-f1afc186=\"\">&#8220;So coming out of the pandemic, in particular, there was a significant surge in multifamily unit permits issued,&#8221; said Stapp.<\/p>\n<p data-v-f1afc186=\"\">Stapp says a multifamily construction boom in the Valley has led to more available units than renters can absorb.<\/p>\n<p data-v-f1afc186=\"\">&#8220;Since 2022, we&#8217;ve had over 60,000 new rental units in the Valley &#8230; in the last year, we have about 27,000 new rental units,&#8221; said Sindy Ready of RE\/MAX Excalibur.<\/p>\n<p data-v-f1afc186=\"\">It&#8217;s gotten to the point, Ready says, that landlords are having to get creative to fill the units.<\/p>\n<p data-v-f1afc186=\"\">&#8220;They&#8217;ll throw in incentives to make it worth someone&#8217;s while. There was one complex that was offering a $200 discount on the rent if someone did 17 months instead of 12 months, so they&#8217;re all just trying to get creative,&#8221; Ready said.<\/p>\n<p original-article-post=\"\" origination_station=\"KSAZ\" data-v-ec26887a=\"\" data-v-f1afc186=\"\">Looking Ahead:<\/p>\n<p data-v-f1afc186=\"\">Experts, however, say the relief for new renters might be short-lived.<\/p>\n<p data-v-f1afc186=\"\">&#8220;Absorption is going up, so that means occupancy is going up, and it&#8217;s not going to be long &#8230; you&#8217;ll get through this year &#8230; going into next year, and rent&#8217;s going to go back up again,&#8221; Stapp said.<\/p>\n<p class=\"group-source-paragraph\" data-v-4fbf7207=\"\"><b data-v-4fbf7207=\"\">The Source:<\/b> Information for this article was gathered by FOX 10&#8217;s Jacob Luthi.<\/p>\n<p>    <a href=\"https:\/\/www.fox10phoenix.com\/tag\/housing\" class=\"tags-tag\" data-v-f1afc186=\"\" rel=\"nofollow noopener\" target=\"_blank\">Housing<\/a><a href=\"https:\/\/www.fox10phoenix.com\/tag\/explainers\" class=\"tags-tag\" data-v-f1afc186=\"\" rel=\"nofollow noopener\" target=\"_blank\">Explainers<\/a><a href=\"https:\/\/www.fox10phoenix.com\/tag\/us\/az\/maricopa-county\/phoenix\" class=\"tags-tag\" data-v-f1afc186=\"\" rel=\"nofollow noopener\" target=\"_blank\">Phoenix<\/a><a href=\"https:\/\/www.fox10phoenix.com\/tag\/news\" class=\"tags-tag\" data-v-f1afc186=\"\" rel=\"nofollow noopener\" target=\"_blank\">News<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"PHOENIX &#8211; A new report shows the price of rent across the Phoenix area is falling, something that&hellip;\n","protected":false},"author":3,"featured_media":703811,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5131],"tags":[5229,5643,1587,30040,7065,1588,50,1589,67,586,132,5230,68,2969],"class_list":{"0":"post-703810","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-phoenix","8":"tag-america","9":"tag-arizona","10":"tag-az","11":"tag-explainers","12":"tag-housing","13":"tag-maricopa-county","14":"tag-news","15":"tag-phoenix","16":"tag-united-states","17":"tag-united-states-of-america","18":"tag-unitedstates","19":"tag-unitedstatesofamerica","20":"tag-us","21":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116345257836327328","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/703810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=703810"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/703810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/703811"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=703810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=703810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=703810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}