Chandler becomes the most expensive city in Arizona to rent a 2-bedroom apartment
CHANDLER (3TV/CBS 5) - According to a new study, Chandler is overtaking Scottsdale as one of the most expensive places for apartment renters.
It’s no surprise that Arizona is experiencing a tight rental market sending rental prices skyrocketing all over the state. But according to a new report from rent.com, Scottsdale could provide a better deal than many of its East Valley neighbors. Rental prices for a 2-bedroom apartment between 2020-2021 increased by 68% in Chandler, the most significant increase in the state and the country.
The website estimates that the average price for a 2-bedroom apartment averages $2,900 a month. Renters in Chandler looking for a better deal may not have far to look. 2-bedroom apartments in Scottsdale average $2,767 (a nearly 11% decrease), Gilbert averages $2,387 a month, and Mesa at $1,778 a month.
Scottsdale still holds the highest price for a 1-bedroom apartment, with the average rent costing around $2,900 a month with moderate rental price growth of just over 4%. However, Renters in Gilbert will see the most significant increase in rental prices averaging $1,973, an increase of just over 26% and the largest in the state. Mesa had the cheapest single bedroom rental rates at $1,377 a month with a nearly 8% increase, followed by rates in Phoenix at $1,434 on average with just over a 1% increase.
According to a recent study by online real estate firm Redfin, the Phoenix metro area was the second most popular destination, behind Miami, for homebuyers to pack up and move to from other metropolitan areas like San Francisco, Austin, and Seattle.
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