Renters paying more around Phoenix
People are paying more in rent across Phoenix.
- StaffPhoenix Business Journal
Phoenix area renters are paying more for their digs than they did a year ago, reports The Arizona Republic .
The average rent for an apartment across the region rose 4.9 percent during the past year, to $815 a month, while monthly rents for single-family houses climbed even more: 5.8 percent.
One factor at play is the number of rentals available has fallen from a year ago. In September, approximately 4,300 homes were listed for rent on Arizona's Regional Multiple Listing Service. Last year, more than 6,400 were available.
While the local housing market remains sluggish, rentals continue to be popular for those who do not wish to or cannot qualify to purchase a home.
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