The Phoenix area led the nation in year-over-year apartment rent growth through March, according to a report that covers the key period that came to a close just as coronavirus-prevention efforts were taking hold in Arizona.
Valley rents jumped by 7.6% over March 2019, according to the National Multifamily Report by Yardi Matrix.
That was a margin more than Seattle’s 6%, and significantly higher than the national average rent increase of 2.9%.
Phoenix’s rent growth during the previous three months was fourth in the nation, at 0.5%, behind Seattle, San Jose, California, and Tampa, Florida, according to the report.
