Rental Market Trends

PHOENIX (3TV/CBS 5) — Voters first approved the half-cent sales tax, known as Proposition 400, in 1985, and they renewed it again in 2004. Over the decades, it’s paid for major road and freeway projects, as well as the light rail. The tax is set to expire at the end of next year unless voters…

The Covid-19 pandemic reshaped many of the nation’s housing markets, including places once mostly thought of as seasonal destinations.An analysis by The Business Journals of pricing trends among ZIP codes with a minimum median home value of $250,000 and a population of at least 5,000 found some of the nation’s hottest housing markets are tourism…

According to a new study from Rent., after nearly two years of constant rent growth, the national median rent price was less in May than it was a year ago. The -0.57% drop in yearly prices marked the first time prices went negative since March 2020. Yearly rent growth has been decelerating for nine months…

A recent study has found that Scottsdale is one of the best places for renters for 2023, while a separate report found that the Valley has seen some of the largest year-over-year rent decreases in the nation. Scottsdale came in at No. 3 on RentCafe’s Best Places for Renters to Live in 2023, coming in…

As housing demand for homes remain slim, the overall supply of low-cost rentals fell by 3.9 million units over the last decade, according to the Joint Center for Housing Studies State of the Nation’s Housing report. As a new interactive tool released in conjunction with the report shows, the supply of low-cost rentals decreased in…