Phoenix-area rents on rise for nearly two years
Rents have risen in the region 22 out of the past 23 months, according to a study by research firm Axiometrics and reported on by the Arizona Republic.
The average apartment rental rate is now $924 per month, about $70 more per month than it was this time last year. Phoenix had the fourth-highest price hikes in the U.S. during that time.
While its getting more expensive, there are more than 10,000 apartment units planned or under construction in the region.