Phoenix rental rates outpace the National average

As a whole, the Phoenix metro-area housing market is still very affordable but rental rates are now exceeding the National average. Rental rates in the greater Phoenix area rose by 5.6% in the past year, whereas rates only increased by an average of 3.3% overall across the Country. According to the latest housing numbers 36% of people in the Phoenix area are renters and the average monthly rent is $1, more.