RENT Check™ is ARMLS’s monthly publication showcasing the Valley’s residential single family leasing market. It features the Rent Check Quotient™ (RCQ™) derived by dividing the # of leases by the # of closed sales as reported in STAT. Elevated lease activity is stoked by high foreclosures, which turn home owners into renters, and investor sales into rentals rather than owner occupied houses.
In March 2013 the Median Lease price was $1063 with average days on market of 55. Should you decide to use professional property management services in Phoenix such as Real Property Management, your average days on market can be as low as 28 days.