Market Intel

Apartment rents in the U.S. inched up again in October despite the minor fall in the previous month, according to a report from RENTCafé. All the signs point towards a strong and resilient multifamily market as the national average rent reaches $1,476. Here are the highlights for Phoenix and suburbs:

(Bloomberg)—How do you make rental housing more affordable? As policy makers nationwide search for an answer — tinkering with proposals ranging from comprehensive rent control to rezoning — one start-up has put to work an idea that makes things cheaper immediately: eliminate the security deposit. Entrepreneur Ankur Jain, a millennial

RENTCafé‘s August rent report is out and while researchers have noticed a slowdown in national rental costs, Phoenix and the surrounding suburbs don’t necessarily follow the trend this time, as Metro Phoenix rents have picked up their rising tendencies yet again.  Here are the highlights for Phoenix and suburbs: •

US apartment rents are continuing to rise. According to a new report from Yardi Matrix, apartment rents increased $2 in August, maintaining the yearlong growth of 3%. Now, rents across the US average $1,472. Las Vegas, Phoenix, Boston, Sacramento, Calif., and Austin, Texas lead US rent growth in the month

With recent record-setting heat in many parts of the country, it may not feel like fall, but the signs that autumn is fast approaching are all there: Schools have reopened, football has kicked off another season and apartment rents are soon expected to enter their annual seasonal slowdown. In many

The national average for cost of rent rose $3 in July from the prior month to $1,469 according to Yardi Matrix. That’s a gain of 3.4% from a year earlier, the real estate data firm said. Yardi Matrix ranked the top five markets for multifamily rent growth, based on the percent change

More than half (54 percent) of young people about to graduate from college plan to move back home to live with their parents, according to a new report from Apartment Guide . “As recently as a few years ago, it was almost embarrassing to move back home with your parents,”

Arizona is currently one of the hottest destinations for relocators, and the apartment housing industry is facing the subsequent pressures of that. In 2016, Arizona had the fifth-highest number of net in-migrants in the nation. That is, over 24,000 more people moved into the state than out of the state that year.

CoStar Market Insights: An Abundance of New Apartment Supply, but Lack of Affordable Units Cause of Concern Phoenix continues to lead the nation in apartment rent growth, as demand outpaces elevated levels of new supply. As cited in the latest CoStar Phoenix Apartment Webinar, robust rent growth, both in apartments

In true seasonality fashion, June brings rent increases consistent with the end of the second quarter. Nationally, average rent prices reached $1,465 following a 3.2% annual increase and up 0.8% since last month — the highest monthly jump since May 2018.  Metro Phoenix followed suit, with rents increasing — sometimes dramatically