Phoenix’s rising rents drive more toward homeownership

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AZ BIG MEDIA (MARCH 4, 2019) – Recent data shows that apartment rents in Phoenix are on the rise. In fact, according to RealPage, Inc., rent in the area has hit an all-time high, increasing faster than anywhere else in the country. Phoenix is seeing year-over-year rent growth of 8.1%, says the property management software company, making apartment renting increasingly more expensive both in immediate cost and opportunity.

With 62% of households in the Phoenix metro as owners of their home, over one-third of total valley households need to be concerned about the rent hike’s direct effect on their finances. As costs to renters climb high fast, now might be the time for this body to consider homeownership.

Read more at: AZ BIG MEDIA.

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