Valley renters face record-high prices in 2006
March 8th, 2007, 4:22 pm · Post a Comment · posted by mistywilliams
The Valley’s average rent hit a record high of $759 in the fourth quarter of last year, up $46 from the same period in 2005, a report by Marcus & Millichap’s Pete TeKampe shows. Good news is that rents seem to be leveling off in 2007 after a couple years of major hikes with vacancies on the rise and apartment owners offering more concessions.Here’s a look at what Valley cities had the highest and lowest rents in the last three months of 2006.Top 5 highest area rents:* North Scottsdale/Fountain Hills $1,013* Ahwatukee $921* North Paradise Valley $920* South Scottsdale $894* Chandler $890Top 5 lowest area rents:* Central Black Canyon $582* West Central Phoenix $587* Glendale $614* West Phoenix $631* Metrocenter $666
