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Rent Prices in Surprise 2015-2019

This comparison looks at Surprise rent prices from 2015-2019.
Real Property Management Phoenix valley has built a chart to show key figures so that you can get a good idea of what is the fair rent in Surprise, AZ and how rental property prices in Surprise compare with the national Consumer Price Index.
The below chart includes the following Surprise rental property data points from left to right– Year, Number of Properties Rented, Average Sq. Ft. of property, Rent Price of Property per sq. ft, Percentage of Rent Price Increase year to year, Average Days on the Market and the national CPI from year to year.

The data was collected from the Arizona MLS for unfurnished, non-vacation, detached homes.
There are some very interesting numbers in this chart. Over the last 5 years, rent prices in Surprise have increased at a rate that is 5x the national CPI (7.6% Average Rent Increase vs. 1.5% Average CPI increase). The rent price per square foot has gone has increased 21 cents from 2015 to 2019. A 2000 sq foot property in Surprise fair rent price in 2015 was $1249 vs. $1673 in 2019. Rental property inventory in Surprise took a 23% decrease in 2016 but has remained relatively stable since then.
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