From Chris Salviati @ Apartment List: Rents in Mesa up by 7% year-over-year

With the first full month of 2021 data in the books, our rent estimates are showing that COVID’s impact on the market is continuing to stabilize. Our national index is up by 0.1% month-over-month, the first monthly increase that we’ve seen since last August. 

And although we continue to see significant regional variation, the markets most impacted by the pandemic are beginning to enter calmer waters. Take the pricey coastal metros where rents have been plummeting, this month’s data implies that we may have reached the bottom. At the other end of the spectrum, many of the mid-sized markets, where we have seen rents grow rapidly through the pandemic, only show modest increases.

Here are some of this month's highlights:

• Rents in Mesa increased 0.6% month-over-month, and are up by 7% year-over-year.
• For comparison, year-over-year rent growth in Mesa was 8.8% at this time last year.
• Median rents in Mesa currently stand at $1076 for a 1-bedroom apartment and $1235 for a two-bedroom.

Check out the full report here: https://www.apartmentlist.com/az/mesa#rent-report. As a reminder, we recently launched a new methodology for calculating our rent estimates, all the details of which are explained here.

If you have any questions or would like to hop on a call to discuss these findings, please let me know!

Best,

CHRIS SALVIATI

Housing Economist

Apartment List

978.551.0600

salviati@apartmentlist.com