The average asking rent in metro Phoenix slid slightly in February, according to CoStar, largely driven by dropping luxury apartment prices.
Gilbert, Chandler, Mesa and Queen Creek — which have higher median household incomes, strong employment and less development than other areas — bucked the trend with slight rent increases.
Downtown and South Phoenix were the areas with steeper rent declines.
Source: https://www.orionprop.com/topfive/phoenix-apartment-rents-turn-modestly-negative-in-february/
