CHANDLER (3TV/CBS 5) – According to a new study, Chandler overtakes Scottsdale as one of the most expensive places for apartment renters.
It’s no surprise that Arizona is experiencing a tight rental market causing rental prices to skyrocket across the state. But according to a new report from rent.com, Scottsdale could offer a better deal than many of its Eastern Valley neighbors. Rental prices for a 2-bedroom apartment between 2020 and 2021 have increased 68% in Chandler, the largest increase in the state and nation.
The website estimates that the average price for a 2-bedroom apartment averages $2,900 per month. Chandler renters looking for a better deal might not have much to look for. 2-bedroom apartments in Scottsdale average $2,767 (a decrease of nearly 11%), Gilbert averages $2,387 per month, and Mesa averages $1,778 per month.
When it comes to renting a one-bedroom apartment, Scottsdale still has a solid lead, averaging around $2,900 per month with moderate rental price growth of just over 4%. However, Gilbert tenants will see the largest increase in rental prices, averaging $1,973, an increase of just over 26% and the largest in the state. Mesa had the lowest single room rental rates at $1,377 per month with an increase of almost 8%, followed by rates in Phoenix at $1,434 on average with an increase of just over 1%.
According to a recent study by online real estate company Redfin, the Phoenix metro area was the second most popular destination, behind Miami, for homebuyers to pack up and move from other metro areas like San Francisco, Austin and Seattle.
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