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."
Rent in Tucson goes up 4% from last year ... but the trend is being seen across the state. I'll have more tonight on @kgun9 (according to @ApartmentList) pic.twitter.com/RFr7NmVMii
— Jennifer Martinez (@Jennymartineztv) December 5, 2017
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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