Uncover Phoenix's Best Kept Rental Secrets with This Interactive Map of Rent Prices
As Phoenix continues to grow, so do rent prices in many areas. However, not all zip codes are seeing the same rate of increase. Some areas are experiencing a decrease in rent prices, while others are seeing significant jumps.
For renters or real estate investors, it's important to understand how rent prices are changing across the city. The zip codes with the lowest median rent are 85009, 85007, and 85006, with median rents ranging from $1,230 to $1,439 per month. These areas have seen increases in rent prices year over year, but the percentage increase is not as high as some other areas.
On the other hand, the zip codes with the highest median rent are 85262, 85266, and 85377, with median rents ranging from $3,300 to $6,500 per month. These areas have seen significant changes in rent prices year over year, with some experiencing a decrease while others are seeing jumps of up to 20%.
Factors such as supply and demand, job growth, and development in certain areas can all affect rent prices. It's important for renters and real estate investors to stay informed on the trends in the Phoenix rental market to make informed decisions about where to live or invest.
Overall, the median rent for the area shown in the visualization is around $2,100 with a year over year change of 0.77%. While this may seem like a small increase, it's important to understand how these changes vary by zip code and what factors may be driving those changes.