Rental market snapshot for Riverside, Tempe
Riverside rental market summary
The rental market in Riverside, Arizona is showing signs of growth. In July 2023, there were 24 new listings, a significant increase from the previous month. The median rent also increased from $1,400 in June 2023 to $1,895 in July 2023, a 35.4% increase. This is a significant jump from the median rent of $1,844 in July 2022, a 2.8% increase.
Overall, the rental market in Riverside, Arizona is on the rise. With more listings and higher median rent prices, the market is becoming more competitive. As the demand for rental properties increases, so too does the cost of rent. This is great news for landlords and investors, but renters may find it difficult to find affordable housing in the area.
Median rent for all residential properties in Riverside
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The most expensive listings and top trending buildings in Riverside
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 330 S Farmer Ave | $3,200 | 3 / 3.0 |
| 330 S Farmer Ave | $3,100 | 3 / 3.0 |
| 330 S Farmer Ave #104 | $3,100 | 3 / 3.0 |
| 330 S Farmer Ave | $3,000 | 3 / 3.0 |
| 522 W Brown St | $2,995 | 2 / 2.5 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| BH Management Services LLC | $1,223 |
| MEB Management Services | $1,150 |
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Bedroom Breakdown in Riverside
Riverside neighborhood apartments rents
The rental market for studios in Riverside, Arizona is showing signs of improvement in June 2023. There was only one new studio listing in June, but the median rent decreased by 16.1% from May 2023 to June 2023, from $1,295 to $1,087. This suggests that the market is becoming more competitive, with landlords offering lower rents to attract tenants. This could be a sign of a healthier rental market in the near future.
The rental market for 1-bedroom apartments in Riverside, Arizona is showing signs of growth. In June 2023, there were two new 1-bedroom listings, indicating an increase in demand for these types of apartments. The median rent for 1-bedroom apartments in June 2023 was $1,186, which is a 9.8% decrease from the median rent in May 2023 of $1,316. This suggests that the rental market is becoming more competitive, with landlords offering lower prices to attract tenants. Overall, the rental market for 1-bedroom apartments in Riverside, Arizona appears to be on the rise.
The rental market for 2-bedroom apartments in Riverside, Arizona is showing signs of improvement. In June 2023, there were 4 new 2-bedroom listings, and the median rent decreased by 8.0% from May 2023 to June 2023, from $1,574 to $1,448. This suggests that the rental market is becoming more competitive, and renters may be able to find better deals in the near future.