30 August 2020

NEW DATA from Igor Popov @ Apartment List: Uptick in Mesa Rent Increases

Thanks to Igor for providing these details from this month's highlights of Large Cities With The Biggest Rent Changes Since March
Rents in Mesa up 0.6% since start of pandemic
Hey Tim, 
I hope you're staying safe and healthy. As the COVID-19 pandemic and its ensuing economic fallout continue to overwhelm renters across the country, our monthly rent estimates provide the most timely picture of the rapid changes in the rental market. 
For a full analysis of the newest monthly data, see our September report here: https://www.apartmentlist.com/az/mesa#rent-report
Here are some of this month's highlights:
  • Rents in Mesa increased by 0.4% month-over-month, and are up 0.6% since the start of the pandemic in March.
  • Year-over-year rent growth in Mesa currently stands at 3.1%.
  • Median rents in Mesa currently stand at $928 for a 1-bedroom apartment and $1,156 for a two-bedroom.
Check out the full report here. If you have any questions or would like to hop on a call to discuss these findings, please let me know!
Best,
Igor

Igor Popov
Chief Economist
Apartment List
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NEW DATA: 
Fewer renters looking to move to Phoenix during COVID
Hey Tim, 
Checking in to see if you have any questions on our latest migration report. As a reminder, Apartment List recently released our Q3 migration report, which uses proprietary data from our user searches to provide new insight on how moving trends are being impacted by COVID-19.
Apartment List just published our quarterly renter migration report, shedding new light on how the COVID-19 pandemic has impacted moving trends.
Our Q3 Migration report analyzes proprietary data from millions of user searches spanning April through early-August to determine where Americans are looking to make their next move. Compared to this time last year, we are seeing notable shifts in search activity, likely due to the pandemic and its impact on the economy. While some of the hottest markets have seen a dropoff in out-of-metro interest, other metros are seeing activity pick up.
Key insights from the report include:
  • 36.3% of those looking for a place to live in Phoenix are searching from outside the metro, compared to 38.4% at this time last year.
  • 15.9% of apartment hunters currently living in Phoenix are looking to move elsewhere, compared to 15.4% last year.
  • Renters looking to move to the Phoenix metro from elsewhere are most likely to be searching from Los Angeles, CA. This is also is the most most popular destination among renters looking to move away from Phoenix.
Check out the full report for more detailed data and to explore trends for major metro areas around the country.

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