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Phoenix Property Rent Statistics

ARMLS (Arizona Regional Multiple Listing Service, Inc), publishes monthly rental statistics for the Phoenix Rental Property Metro area based on all leasing activity through MLS (Multiple Listing Services).  For February 2014, closed rental units was 3625 so down slightly from 3690 for February 2013.  The median lease price was $1095 and the average days on market was 49.  Although the median lease price was the same as January 2014, the average days on market dropped slightly from 53 in January and should continue to remain strong through March and April when the Phoenix weather is often times at its’ best.  Additionally, the median lease price dropped from $1237 in January to $1210 in February.  It is important to keep in mind that these numbers are actually higher since they do not include landlords who advertise in other mediums and do not use MLS.