By Catherine Reagor | Arizona Republic, (June 2020)
Metro Phoenix rents have finally stopped rapidly increasing and are even dipping in some areas.
Scottsdale posted the second biggest decrease in the U.S. for the median rent on a one-bedroom apartment this month.
Other Valley cites including Chandler, Tempe and Phoenix saw rents drop, too.
This month’s dips comes after metro Phoenix led the nation for rent increases for most of 2019 and early 2020.
Rents nationally were flat during a month when several states including Arizona had moratoriums on evictions due to the pandemic.
“Landlords are wary of losing tenants and seem to be reticent to ask for increased rents,” said Sydney Temple, lead rental economist at the national research firm Abodo.