Tucson rent prices steadily increasing

TUCSON (KGUN9-TV) - The rent in the City of Tucson has increased throughout the years as many more people move to the Old Pueblo. 

Tucson has been a destination city for many people and many different reasons. Including, great weather, spectacular views, and affordable property. 

Ginny Huffman, 2018 President of Tucson Association of Relators, says she has seen a trend that's changing. "Rental rates are starting to creep up in the Tucson area, and we've seen a lack of rental properties."

According to the Tucson Rent report on Apartmentlist.com, the average rent in Tucson has gone up 4% since 2016. 

While people are moving to town many home builders are slowing down.

"It's supply and demand." 

"Less activity in home buying and especially in investor purchases. Not a lot of investors right now - they're investing in other areas that aren't necessarily real estate," says Huffman. 

Huffman says these are the effects of what happened nearly a decade ago. 

"The recession hit and it affected the investor market heavily, " says Huffman. Adding, "because when things dropped in 2007 and 2008 a lot of the investors left."

Huffman says the city of Tucson and surrounding cities are trying to develop and grow their communities to be a place where you live, work and play. 

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