September 2020 Rental Market Update

The Phoenix rental market continues to show strength.  Limited supply of available properties and strong demand continue to drive year-over-year rental appreciation.

Check out recent rental activity and trends for the Phoenix Metro area for September 2020...

Closed Rental Units: 1,722 (9.80% decrease year over year)

Median Lease Rate: $1,700 (6.58% increase year over year)

Average Lease Rate: $1,893 (7.86% increase year over year)

Average Days on Market: 25 (7.41% decrease year over year)

Related: Phoenix Tops Single-Family Rent Index