08 January 2020

Mesa #1 For Fastest Rent INCREASES Over Last Year > MORE THAN 3X THE NATIONAL AVERAGE!

Welcome to the January 2020 National Apartment List Rent Report! 
'Our national rent index ticked up by 0.1 percent over the past month, continuing a period of relative stability in rent growth. Rents have now remained essentially flat since last June. Year-over-year growth currently stands at 1.4 percent, a rate of growth that trails both overall inflation and growth in average wages.
Las Vegas and Phoenix metros experiencing fastest growth over the past year
Tracking rent growth at the national level is informative and provides valuable context, but housing markets are inherently local, and in contrast to the modest growth of our national rent index, some parts of the country are experiencing much more rapid price increases.
Mesa, AZ tops our list for the nation’s fastest rent growth, with an increase of 5.1 percent over the last year, more than three times the national rate. Mesa is located just outside of Phoenix, which ranks third on the list at 3.8%.
Read on for an analysis of the trends we’re seeing this month.
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