High-end luxury renters have skyrocketed in recent years; driving up demand for luxury single-family rentals across the U.S. This trend is driven by high-end renters desiring modern amenities and extra space without the burden of a mortgage.
Point2 released a report that listed out the top 100 largest U.S. cities for luxury rentals. Two Arizona cities ranked among the top 20 for the highest shares of luxury single-home rentals.
Here are the top cities in Arizona for luxury rentals:
#1 – Scottsdale
To no surprise, Scottsdale leads the way in Arizona for luxury single-family rentals. Out of the top 100 list, Scottsdale takes 8th place overall with 34% of its rental homes in this category with 7.31% homes labeled as ultra-luxury.
#2 – Phoenix
Phoenix comes in 19th place nationally with 13.46% of luxury houses for rent and 3.67% of which are classified as ultra-luxury.
#3 – Glendale
Glendale has 6.61% of its rental homes labeled as luxury and 3.03% as ultra-luxury.
#4 – Mesa
Mesa features 6.09% of luxury homes and 2.03% ultra-luxury homes for rent.
#5 – Chandler
Chandler has 4.93% of luxury homes and 0.29% of ultra-luxury homes for rent.
#6 – Gilbert
Gilbert also has 4.83% of luxury homes and 0.27% ultra-luxury homes for rent.
#7 – Tucson
Tucson rounds out the list with 2.11% of its rental houses classified as luxury and 0.59% as ultra-luxury.
This surge in high-end renters shows a shift in housing preferences in Arizona and across the U.S. for a desire for modern living spaces and amenities without the long-term commitment of a mortgage.
Read the full report here.
