PHOENIX — Average rent in the Phoenix metro has fallen from its peak, but renters in houses are seeing costs climb while apartment dwellers are getting relief.
The average rent in the Valley is $1,735 — $18 cheaper than the same time last year and $23 cheaper than the Valley's peak.
But that number tells only part of the story. Apartment renters are paying just over $1,500 a month, and rents are falling. House renters are paying $2,300, and rents are going up.
That split started in 2022. Before then, the two tracked together. Today, apartment rent is nearly 8% below its 2022 level — house rent is 5% above it.
ABC15 Data Analyst goes inside the numbers, including a look at rent city-by-city in the video player above.
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