1. Radio
 / Modified jan 13, 2017 5:04 p.m.

Rent in Tucson on the Rise, But Still Reasonable, Realtors Say

Rent costs are growing in the local market, but have not climbed as notably as some parts of the country.
by Zachary Ziegler

for rent sign spot A "for rent" sign.
Via Wikimedia Commons

The cost of renting a home in Tucson is on the rise, climbing 3.5 percent in 2016, according to statistics from the Tucson Association of Realtors.

Rent on a single-family home climbed from $1,252 to $1,295.

“I don’t think we’ve seen a spike in monthly rental prices like we’ve seen in other markets, so I think we’ve still got good options there for people,” said association President Pam Ruggeroli.

She said such rent increases are sustainable, and healthy, for a market.

Ruggeroli also pointed to another sign that the rental market is moving at the same healthy pace as the residential real estate market. A rental property stays on the market an average of 45 days, comparable to the average length of time a house is on the market, 49 days.

MORE: Arizona, Business, Pima County, Economy, News, Real Estate, Tucson, U.S.
By posting comments, you agree to our
AZPM encourages comments, but comments that contain profanity, unrelated information, threats, libel, defamatory statements, obscenities, pornography or that violate the law are not allowed. Comments that promote commercial products or services are not allowed. Comments in violation of this policy will be removed. Continued posting of comments that violate this policy will result in the commenter being banned from the site.

By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.
AZPM is a service of the University of Arizona and our broadcast stations are licensed to the Arizona Board of Regents who hold the trademarks for Arizona Public Media and AZPM. We respectfully acknowledge the University of Arizona is on the land and territories of Indigenous peoples.
The University of Arizona