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Housing
Phoenix-area suburbs see rental markets boom, report says
Independent file photo
A report about single-family home rentals shows the Valley's suburbs have a high propensity for being the places where renters are landing.
Posted
Independent Newsmedia
Those people looking for a house to rent may have better luck in the Phoenix area the farther they drive away from downtown.
A report from real estate website Point2 found the most active places to rent houses in the Valley are in the suburbs, particularly Buckeye, Anthem, Surprise and Gilbert.
The top 10 listing includes a split of six Valley cities and four outside Tucson that are seen as the places where renters are going.
The report looked specifically at single-family rentals. With most apartment complexes being built in more places closer to central Phoenix or near freeways, the single-family rental market is helping to define some suburbs.
The list, in order, is:
Vail
Buckeye
Tanque Verde
El Mirage
Corona de Tucson
Anthem
Marana
Surprise
Gilbert
Litchfield Park
Almost all the cities on the list have at least 50% of renters opting for single-family homes rather than apartments, with more than 77% of renters doing so in Buckeye, 84% in El Mirage and 73% in Anthem.
Only Litchfield Park was listed with 43.4% of renters choosing single-family homes.
One of the defining characteristics of the study, according to Point2, is that renters have mostly seen their incomes grow by significant amounts during the past five years, and many renters have incomes that exceed the state median wage.
What also is noteable is the share of renters in various communities. The report states El Mirage is 31.4% renters - the highest community on the list - while Gilbert is 25.3% and Surprise is 21.6%.
