According to a new study by RentCafe, Tucson and Phoenix are ranked among the Top 25 for hottest rental markets in the U.S.
Homebuyers are not the only ones experiencing demand. When trying to assess the competitiveness of our country’s 125 largest rental markets, RENT Cafe found mid-sized markets like Central Valley, CA, Spokane, WA, and Boise, ID was the most sought-after this past quarter. These emerging renter hubs share a similar story, attracting renters from larger metros with a mix of cheaper, slower living and a growing number of opportunities. Coupled with a shift towards remote work, the nation’s mid-sized renter hubs were poised to get a boost in the first quarter of the year.
To compile the list of this study, RENTCafé looked at industry metrics when it comes to competitivity:
• What percentage of apartments were occupied
• How many days rentals were vacant
• How many prospective renters competed for apartments
• The rent price trend
To see the full article, check out article written by Irina Lupa of RENTCafe!