Looking back at 2018, rental growth rates increased rapidly across the valley in comparison to national averages.
A study by RentCafe.com lists Phoenix as second in large market cities for rental growth at an average of 7.7 percent, just behind Las Vegas.
The same study found the rate much higher in mid-size market cities like Mesa and Peoria with rental growths 8.3 and 9.3 percent, respectively.
An analysis of those findings shows many of the renters hail from larger cities like Los Angeles and New York where average rental rates are twice as expensive.
Currently, the average rental rate among all available apartments in Phoenix is $1,011 a month.
