Phoenix Rental Statistcs September 2013.

This data on the Phoenix rental statistics is compiled from the Arizona Regional MLS and consists of the Valley’s single family home rental market.  As shown, the median lease price is currently $1,100, the average lease price is $1,260.  The average time on the market for Phoenix rentals continues to stay low at 38 days.  The Rent Check Quotient™ is derived by dividing the number of leases for the month, by the number of closed sales, as reported in our monthly sales statistics report.

 

Phoenix Rental Statistics September 2013 – Average Closed Leases

 

 

Phoenix Rental Statistics September 2013

– Closed Rental Units Per Month

 

 

The upward trend in leasing activity continues, as seen by the average units per year and closed monthly units here in the Valley.  This activity confirms the continuing and increasing need for rental homes here in Arizona, especially for those who are displaced by short sale or foreclosure of their own homes.  As we begin to wind down our distressed sales here in the Phoenix metro area, we may begin to see a flattening and perhaps a decrease of closed rental homes.