Two Valley cities rank among nation's biggest rent price increases

Rent sign.jpg
Posted at 8:43 AM, Mar 23, 2022
and last updated 2022-03-23 11:43:07-04

PHOENIX — Two Valley cities topped the nation with the biggest increases in one-bedroom rent prices year-over-year, according to a report issued this month by Zumper.

Of the 100 largest cities in the nation, Chandler had the second-highest rental increase, with a 50.8% bump in monthly rental rates for a one-bedroom unit, while Mesa took the 10th spot with a 30.6% increase.

Nationwide, one-bedroom units were up 24.4%, at $1,684, while two-bedroom units were up 21.8%, at $1,997, according to the report. Long Beach, California, topped that list with a 56.7% one-bedroom rent price increase in February.

Surprisingly, Scottsdale made the list of cities with the biggest decrease in two-bedroom rent prices year over year.

Read more of this story from the Phoenix Business Journal.