PHOENIX — Multiple Valley cities experienced some of the fastest recent rent growth in the country, according to new data.
Apartment List compiled data from rental estimates between January 2021 and January 2022 in cities nationwide. New York City experienced the fastest rent growth at over 33%, followed closely by Tampa, Florida, and then Scottsdale, Arizona.
Mesa, Phoenix, and Glendale also ranked in the top 10 fastest rent growth. Chandler and Gilbert ranked just slightly lower, falling in the top 20 spots at no less than 25.8% growth.
The rent growth was substantially higher than year-over-year data in recent years. However, the data shows the increases around the country are slowly easing.
In Phoenix, the median rent for a one-bedroom apartment is $1,217 and $1,486 for a two-bedroom unit. In Scottsdale, those numbers jump to $1,747 and $2,073.