This week, we will look at updated data with the last 4 months of 2015 included. We will now compare the full year market data from 2013-2015 in Fletcher Heights and Peoria, AZ.
Fletcher Heights is a subdivision located roughly north and south of Deer Valley Road and east and west of 83rd avenue.
We will focus on the rental homes listed on the Arizona MLS and break down the resulting rental data by year.
The rental property data we look at from Peoria and Fletcher Heights focuses on closed, unfurnished rental properties.
The rental home prices in Peoria and Fletcher Heights shown in this study show good gains as detailed below. The inventory in both comparisons also shows a significant decrease.
Overall, average rental property prices in both Peoria and Fletcher Heights have increased during this 2013-2015 time period.
The average rental home price gains in Peoria, AZ is about 6.5% in these three years. In Fletcher Heights, the increase in rent in this time frame has been 9.3%.
Rental property inventory on Peoria is down 31% from 2013 to 2015 and rental inventory down 21% in Fletcher Heights.
The last four months of data from 2015 strengthened the gain in rent and increased the inventory drop more than the first eight months of 2015.