Valley realtor discusses increase in rental prices

3 months 4 weeks 2 days ago Wednesday, February 01 2023 Feb 1, 2023 February 01, 2023 10:10 PM February 01, 2023 in News - Local

Rental prices are higher than ever, and one Valley realtor says the rent increase has a lot to do with the Valley's growth.

Myssie Cardenas-Barajas of JP & Associates says the problem is not a lot of homes are available.

“The property owners know that they can demand certain prices because if one person leaves, they'll fill it up just quickly with the next person who wants a house,” Cardenas-Barajas said.

According to Cardenas-Barajas, construction slowing down and outside investors looking to cash in on the Valley is causing the rent increase.

“They are buying up any type of apartment complexes, same thing with homes,” Cardenas-Barajas said. “If there's anything that's available for a home, they know that they can be able to rent that out because we've got the demand for it."

The demand also translates into a price war that is not expected to end anytime soon.

Watch the video above for the full story.

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