How much did your rent go up? See Let Joe Know's top three Valley rent raisers abc15
The low rent of $914 for a three-bedroom apartment is a big reason."I start crying. I knew there was no way I could afford it," she says.Already on our list: Avery on the Green Apartments in Chandler."I just don't understand how you could increase that much when nothing has changed in one year," she says.
It's a 63% increase, placing the Laurel Apartments in Chandler as the second worst offender rent-raiser on our list.You may say apartments are taking advantage of high demand and low supply. Juanita says this is what her office told her.Juanita is at the Village Diamonte Apartments in Glendale.Instead, Juanita's rent went from $914 to $1,945.
AMA:"Nothing in the statistics we see daily shows rent increases at the level you suggest. Such increases would be tremendous exceptions, not the rule. Credible analysis shows that rent in metro Phoenix increased about 6.5 percent between September 2021 and September 2022. That's below the national average of a 9.5 percent increase.
Every year, more than 100,000 people move to Arizona, which has made the state and the Valley among the largest gainers for population in the U.S.. Until recently, new construction was unable to keep up with this surging population. With rental occupancy rates at 50-year-highs, the shortage of available housing drove up rent. So, too, did record inflation.
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