Priced out of affording a place to live. A new housing report from the Morrison Institute for Public Policy with Arizona State University finds the price of rent increased nearly 72% from 2010 to 2022.
The report estimates minimum wage workers would need to work 86 hours per week, or have more than two full-time jobs, to afford a two-bedroom house.
According to data from RentCafe, the average Phoenix rent sits at $1,522 although it can differ based on size and location. That's slightly below the national average.
Here's a breakdown of the average rent in other Valley cities:
- Glendale - $1,464
- Mesa - $1,489
- Peoria - $1,645
- Chandler - $1,769
- Tempe - $1,891
- Scottsdale - $2,043
But prices aren't the only obstacle facing renters.
The Federal Trade Commission recently met with renters, renters' advocates, and researchers at an event held in Atlanta to hear about issues affecting renters.
At the top of the list is who's in charge. The group cited corporate landlords and institutional investors as a cause for rising rents. Gone are the days when rental units were owned by a single person, or a small company, and developed on a regional basis. Today, it's common to see institutional investors behind thousands or tens of thousands of units across the country.
The group also talked to the FTC about junk fees. Fees are a big complaint the Let ABC15 Know team hears about from Arizona consumers.
Viewer Thomas emailed us voicing frustration about his apartment's "covered and assigned parking" fee because Thomas says the apartment has neither covered nor assigned parking!
Meanwhile, Let ABC15 Know viewer Laura questioned being charged an "amenity fee" for things like valet trash and common area wireless internet because she says she doesn't use those.
A third topic brought up by the focus group is online portals. Few rentals have a superintendent renters can call to have issues taken care of. Many renters are now asked to use online portals for maintenance requests. However, the FTC states while it may look like help is on the way, renters are often left with units in disrepair.
Have any of these issues impacted you? Maybe you faced a major rent increase or an outrageous fee? Or maybe you're a landlord who made a change and saw success? We want to hear from you! Email your stories and details to Consumer@abc15.com.
