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This West Coast city is sending the most apartment renters to Phoenix

Posted: 11:04 AM, Jun 12, 2019
Updated: 2019-06-12 18:04:51Z
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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.