Average monthly rent for Phoenix apartments over the past 18 months increased at a rate that ranked in the top five for major U.S. cities, according to a new study by RENTCafe.
Phoenix saw a 6.8 percent increase in average monthly rent, from $933 to $996, based on data collected from January 2017 through July 2018. That rapid escalation placed them second nationally for big cities, just behind Queens, New York, which saw an 8.4 percent increase.
