Phoenix apartment rents rising

Phoenix apartment rents are climbing as more units are leased.
New data from RealFacts shows the average rental rate in the Phoenix-area climbed 4.5 percent during the first quarter of this year.
The region’s new average rent is $725, up from $694 during the last quarter of 2009.
The apartment data tracking firm said Phoenix’s recent increase in rental rates made up for losses during the second half of last year.
Other cities across the country to post increases in rental rates included, Charlotte, N.C., Denver, Salt Lake City and San Antonio.
Phoenix’s apartment occupancy rate climbed 1 percent during the first quarter.
 
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