PHOENIX — Renters looking to move to the Valley are most likely to be searching from Los Angeles, New York or Tucson, according to data released Wednesday by Apartment List.
Chris Salviati , housing economist for San Francisco-based Apartment List Inc., said he's not surprised to see nearly 19% of metro Phoenix apartment searches on the Apartment List site coming from renters in LA, considering the affordability crunch in California.
"Phoenix is a place that is doing quite well economically and still retaining a decent level of overall housing cost of living affordability," Salviati said. "It makes a lot of sense we would see people looking to get out of LA turning to Phoenix as a good alternative."
Average rental rates were $1,131 in metro Phoenix during the first quarter of 2019, up $88 from the same period a year earlier, according to Phoenix-based ABI Multifamily's Q1 2019 report.
For the full article on this report from the Phoenix Business Journal, CLICK HERE.