New data: Mesa sees #8 slowest rent growth in June | Apartment List

 

July 2025 Rent Report

Your monthly rental market update from the Apartment List Research Team

Hi Tim,   Our Mesa Rent Report has been updated with new data through June 2025.

The National Outlook:   Rents increased 0.2% in June, pulling the national median rent up to $1,401.  But although prices are still inching up, month-over-month rent growth has slowed for three straight months, and year-over-year growth dipped for the second straight month, falling to -0.7%.  Meanwhile, the multifamily vacancy rate nationally sits at 7.0%, an all-time high.  All of our indicators are pointing to a soft market during what is typically peak moving season.

The Local Outlook:   Today, rent gains are concentrated in the Midwest and Northeast, while rent declines remain prevalent in the Sun Belt and Mountain West. In your market specifically: Rents in Mesa fell 0.7% in June, compared to a 0.2% increase nationwide. Month-over-month rent growth in Mesa ranks #8 slowest among the nation's 100 largest cities. Year-over-year rent growth in Mesa now stands at -3.8%, ranking #8 slowest in the nation. Today the median rent in Mesa is $1,165 for a one-bedroom unit and $1,311 for a two-bedroom unit. And the citywide apartment vacancy rate stands at 7.3%, up 1.2 percentage points from this time last year. For more national and local insights, check out the latest update to our Mesa Rent Report.

For more data, tools, and insights about the rental market, please visit the Apartment List Research Blog.