CHANDLER, Ariz. — Editor's Note: The above video is from an earlier broadcast.
The cost of renting a two-bedroom apartment in Chandler has increased at a rate that's significantly higher than in many other municipalities, a new report shows.
Rent.com has released data showing year-over-year rental costs in cities throughout the country and Chandler topped the website's list for price increases in renting a two-bedroom unit.
Chandler's average price is now $2,900, which is 68% more than the prices seen a year ago.
According to a list compiled by Rent.com, Chandler's growth rate for two-bedroom rental costs was higher than prices seen in Portland (52%), Austin (50%), Philadelphia (48%), and Salt Lake City (46%).
Oklahoma City topped the website's list for the biggest growth in the average price for one-bedroom apartments.
Chandler's average cost for a two-bedroom surpassed the average prices recorded in Scottsdale, Gilbert, and Mesa.
An influx of new residents moving to the Valley has been contributing to the rise in housing costs throughout the region, according to an analysis by Redfin.
“Not everyone in the country is experiencing inflation the same way," said Redfin Deputy Chief Economist Taylor Marr in a statement. “It's having an especially big impact in places like Tampa and Phoenix, which are attracting the newest residents and seeing double-digit increases in prices overall."
Arizona's housing crisis has been affecting residents throughout the Valley for the last couple of years as a shrinking amount of housing supply continues to elevate prices.
The rate of homelessness in the Valley notably jumped more than 30% over the last two years.
VERSIÓN EN ESPAÑOL: Chandler lidera la nación por aumentos en el alquier de apartamentos de dos habitaciones, según informe
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