Rents around Valley see slight dip in July

Posted at 8:22 AM, Aug 16, 2019
and last updated 2019-08-16 11:22:21-04

As temperatures soared in July around the Valley, renters in the region saw a minor cool down in rent increases, according to a new report.

Rents in Phoenix and surrounding cities saw modest month-over-month decreases last month, according to the monthly Apartment Market Report from RentCafe.

Average rent in Phoenix last month was $1,082, which reflects a modest 0.3% dip from the previous month, according to the report.

Year over year, Phoenix rent is up $85, though it's still a few hundred bucks less than the national average of $1,469.

See more from the Phoenix Business Journal.