Phoenix Arizona Rents – Local Market Saw Huge Increases between 2014 and 2015

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PHOENIX, AZ. – There’s no denying that Phoenix Arizona rents have gone up dramatically within the last 24 months but the big question that many renters, economists, property owners and industry experts want to know is how much have rents gone up within the last two years and what can we expect for 2016?

In today’s article we will show you an example of how rents in Phoenix have increased within the last 24 months and what you can expect moving forward during 2016 especially if you plan on renting a property in Phoenix.

Average Rent Increases between 2014 and 2015

Thanks to a recent study done by rentcafe and Yardi Matrix we know that rents in the Phoenix area rose dramatically between 2014 and 2015.

Here’s a breakdown of rent increases in Phoenix over the span of 12 months, these statistics were taken from buildings that have 50 or more units.

85034 (Phoenix) – 21% rent increase

85251 (Scottsdale) – 20% rent increase

85302 (Glendale) – 16% rent increase

85295 (Gilbert) – 11% rent increase

85338 (Goodyear) – 7% rent increase

85351 (Sun City) – 4% rent increase

What to Expect For 2016

During 2016 renters in the Phoenix area can expect more of the same as rents here are expected to continue climbing and rents area increasing in a lot of different places in the Metro Phoenix area including South Scottsdale, Paradise Valley and the South Mountain area.

With more rent increases expected this year it certainly makes sense for any property owner to hire an experienced Phoenix Arizona property management company like Goldenwest Property Management.

To learn more about how we can help you to grow your portfolio of Phoenix Rental Properties and get more ROI from your investments contact Goldenwest today by calling us at (602) 765-4750 or click here to connect with us online.

Las Vegas Apartments – City Ranks High with Most Apartment Space in USA

Las Vegas Apartments

By Goldenwest Management

LAS VEGAS – Thanks to a recent article from Forbes.com and Rent Jungle we know that Las Vegas Apartments are considerted to be the most spacious in the United States for what renters here are paying per square foot. 

The study was limited to Class A properties, or the 20% of properties with the highest rents in a market. The value was ranked by the average rent per square foot in each metro area. And, because not all Class A properties are created equal – a top-of-the-line building in New York is a lot different in terms of square footage and price than one in, for example, Memphis – we separated the findings into five regions.

Source – Forbes

Right now Las Vegs apartments are currently averaging $1.07 per square foot or $1,062 per square feet and this makes apartments in Las Vegas seem huge in comparison to other cities including New York where the latest trend in apartments is “micro apartments” because many units there are currently priced at $2,000 per month for apartments that have roughly 200 to 500 square feet of space.

Average Las Vegas Rent

As of March 2016 the average Las Vegas apartment is renting for $1,063 per month for a two bedroom apartment while a one bedroom apartment in Las Vegas is renting for $883 per month.

Just outside of Las Vegas you can find apartments that are renting for $1,067 per month.

Rents in Las Vegas should remain stable for the next few months but they are expected to increase in the coming months as the weather warms up and more people relocate to Las Vegas from other states including California.

How to Find Las Vegas Apartments 

Are you planning on searching for an apartment in Las Vegas? If so, one of the best things you can do is hire a Las Vegas Property Management company to show you apartments, homes, condos and town homes that match your budget.

To view properties for rent in Las Vegas contact Goldenwest Management today by calling us at (702) 685-7696 or click here to connect with us through our website.