Greater Phoenix Rental Market Data by City 2015 vs. 2014 and 2013 for September,October and November - Redux

On the last post, we took a look at the city of Phoenix, AZ and the Valley Vista subdivision's 2013 to 2015 pertinent rental market figures.

This week we will look at the same data but just look at some line charts that re-emphasize increase in rental price and decrease in rental inventory. These charts will show a graphical picture of the data for the following cities.

Surprise (SUR)

Phoenix (PHX)

Peoria (PEO)

Avondale (AVD)

Buckeye (BUK)

Keep in mind, the rental property data we use in this comparison is objective data that will look at focuses on closed, unfurnished rental properties and is taken from the Arizona MLS.

We will present two charts. The first chart shows raw rental price per square foot in each city. 

In each city, the rental price per square has gone up pretty consistently in each year and rental price per square foot increase ranges from 11% to 15%

The next chart shows rental property inventory.

This chart details the significant reduction in rental properties available and also shows that the Phoenix rental property inventory is greater than the rest of the cities inventory combined.

Greater Phoenix Rental Market Data by City 2015 vs. 2014 and 2013 for September,October and November

On the last post, we took a look at the city of Phoenix, AZ and the Valley Vista subdivision's 2013 to 2015 pertinent rental market figures.

This week we will take another look at the Greater Phoenix Rental market data and look at the three charts that break down by city in a few categories. The cities are as follows:

Surprise (SUR)

Phoenix (PHX)

Peoria (PEO)

Avondale (AVD)

Buckeye (BUK)

We will focus on the rental homes that rented between September, October and November and break down the resulting rental data by year. By doing this, we get a great look at how the Greater Phoenix and West Valley 2015 rental market performed vs. the 2013 and 2014 rental market specifically within these three months.

The rental property data we is objective data that will look at focuses on closed, unfurnished rental properties and is taken from the Arizona MLS.

We will present three charts. The first chart shows raw rental price per square foot in each city. 

In each city, the rental price per square has gone up pretty consistently in each year and rental price per square foot increase ranges from 11% to 15%.

The next chart shows rental property inventory.

This chart details the significant reduction in rental properties available and also shows that the Phoenix rental property inventory is greater than the rest of the cities inventory combined.

The final Chart shows the increase in rent price/decrease inventory as a percentage

This one shows good rental market price gains as a whole. The most interesting thing shown is the drastic reduction in rental inventory on the Arizona MLS from 2013 to 2015.

 

Phoenix, AZ and Valley Vista Rental Property Market Comparison from January to November for 2013,2014 and 2015

On the last post, we took a look at the Avondale, AZ  rental market and the subdivision of Coldwater Springs.

This week, we will take a look at the City of Phoenix and the numerous listings within this large area.

We will focus on the subdivision of Valley Vista in Phoenix as the secondary layer to this rental market evaluation.

The Valley Vista subdivision is located roughly south of Cactus Rd.  and north of Peoria Ave. The Valley Vista, Phoenix subdivision is east of I-17 west of 19th Ave. 

All of our Phoenix rental market figures are taken from closed rental data from the Arizona MLS from 2013-2015.

We will focus on the rental homes that rented between January and November and break down the resulting rental data by year.The property data we will look at in this objective Phoenix rental market review and Valley Vista rental market price overview focuses on closed, unfurnished rental properties.

The rental market numbers in Phoenix and Valley View are interesting. Attached is our summary chart.

The most interesting thing to observe is the size of the Phoenix market. The 7113 properties that have been rented in 2015 is almost two thousand units above the last six cities we reviewed 2015 numbers. The cities of Buckeye, Avondale, Goodyear, Surprise, Peoria and Glendale together have rented 5,171 home in 2015 through October 31.

The average rental home price gain for the above time period in Phoenix, AZ was a solid 5.9%. For the houses in Valley Vista, the three year rental price is much bigger but it appears that this is due to a large number smaller homes being sold in a small sample size. 

The price per square foot gain was small in both comparisons.

The rental market inventory decrease over the last three years Phoenix was 32%. The decrease in Valley Vista rental property inventory was the same at 32% although the sample size was smaller.