Here in Mesa Market-Rate Rents Keep Rising...more than 39.9% since March 2020

 Thanks to Rob Warnock for sending the data and information 

Inflation is currently at its highest rate in 40 years, and rapidly rising housing costs are a key contributor. While the market has cooled slightly from last summer’s peaks, the national median rent has still jumped by 12% in the past year. And with spiking mortgage rates now sidelining potentially homebuyers, the coming months could bring additional competition for rentals amid a market that is already historically supply-constrained. 

  

For the latest data, see our August Rent Report here, complete with median rent and price growth data through July 2022. Some highlights below:

• Rents in Mesa increased 0.6% month-over-month in June, compared to a 1.3% increase nationally. Month-over-month growth in Mesa ranks #73 among the nation's 100 largest cities.
• Year-over-year rent growth in Mesa currently stands at 12.8%, compared to 23.6% at this time last year. Year-over-year growth in Mesa ranks #40 among the nation's 100 largest cities. Rents in Mesa are up by 39.9% since the start of the pandemic in March 2020.
• Median rents in Mesa currently stand at $1320 for a 1-bedroom apartment and $1523 for a two-bedroom.

Check out the full report, and for a complete look at national trends, read our national report. Our raw rent stats - for cities, metros, states - can also be downloaded at any time from this page.

 

If you have any questions or would like to hop on a call with one of our analysts to discuss rent trends and how they factor into inflation, please let me know!

Thank you and have a great weekend!

Rob Warnock