Rents in the greater Phoenix area have increased

Rents in the greater Phoenix area have increased. According to Research firm realfacts, the average rent in the greater Phoenix area is lower than that in September last year...

Rents in the greater Phoenix area have increased. According to Research firm realfacts, the average rent in the greater Phoenix area is $815, which is lower than in September last year. Rent has increased by 4.9% this year. The numbers were even higher, up 5.8%, according to data from Arizona State University's Kelley School of Business. Rentals remain popular for those who don't want to buy a home or can't get a mortgage. Orr, director of real estate theory and practice at the Kelley School of Business, said the increase in housing turnover and the decrease in vacancy rates have contributed to higher rents. The increase in average rents cannot be considered a very accurate indicator. Renting out luxury properties with a monthly rent of more than $5,000 will increase the average rent. In September, there were 4,342 properties on the market (excluding vacation homes), compared with 6,486 properties on the market in 2013. The number of rental properties on the market has not yet returned to normal, which is one of the reasons for the rise in rents.