24 Jan Northern Arizona Rental Market Update – January 2025 New Year Edition
As the new year begins, setting the right rental price for your Northern Arizona property is crucial to maximizing your income and staying competitive in today’s market. This January, fresh data from Flagstaff, Prescott, Sedona, and Lake Havasu City highlights key trends to help you adjust your rental pricing strategy effectively. Let’s explore the latest updates and provide practical advice for property owners.
Flagstaff: A Fresh Start with Steady Growth
Flagstaff’s rental market kicks off the new year with a strong median rent of $2,950, showing a $50 increase from last month and stable year-over-year growth. The average days on market have decreased to 69, indicating a swift pace for rentals.
Average Days on Market: 69
Available Rentals: 87
As the new semester begins at Northern Arizona University, Flagstaff’s outdoor lifestyle and proximity to campus continue to attract students and professionals. Consider offering move-in incentives or flexible lease terms to attract renters looking for a fresh start.
Pro Tip: Update your property’s amenities to include popular New Year’s resolutions like fitness equipment or meditation spaces. These upgrades can appeal to health-conscious tenants and justify higher rent.
Prescott: Consistent Demand in a Peaceful Setting
Prescott remains popular among retirees and families seeking a tranquil and scenic lifestyle. The median rent for single-family homes has increased to $2,495, showing a $95 month-over-month gain and a slight decrease of $5 year-over-year.
Average Days on Market: 109
Available Rentals: 88
Although properties in Prescott are on the market longer, the steady demand ensures they remain desirable. Homes close to downtown or those with modern amenities tend to attract renters more quickly.
Pro Tip: Enhance your property’s curb appeal with seasonal landscaping. An inviting exterior can make your property stand out and attract more interest as the new year begins.
Sedona: High Demand and Premium Pricing
Sedona’s rental market continues to thrive, thanks to its stunning red rock landscapes and bustling tourism. The median rent for single-family homes has increased to $3,950, a significant gain of $150 from last month and $50 year-over-year.
Average Days on Market: 138
Available Rentals: 55
Despite longer listing times, Sedona’s desirable location allows for premium rents. Vacationers and remote workers are often willing to pay more for Sedona’s beauty and tranquility.
Pro Tip: Utilize virtual tours to showcase your property to remote renters looking for a winter escape. High-quality online presentations can attract a broader audience.
Lake Havasu City: Affordable Living with Recreational Appeal
Lake Havasu City remains the most affordable rental market for single-family homes in Northern Arizona. The median rent stands at $2,200, with a decrease of $100 from last month but stable year-over-year growth.
Average Days on Market: 124
Available Rentals: 231
Properties in Lake Havasu tend to stay on the market longer, but the city’s recreational opportunities attract tenants, particularly during peak boating seasons as warmer weather approaches.
Discover Your Property’s Rental Potential this New Year
Understanding the latest trends and local market nuances is essential for navigating the Northern Arizona rental market as we begin this new chapter in January 2025. At Unlimited Real Estate, our team will provide you with expert guidance. Share your property details, and we will offer you customized advice based on current data.
Start this New Year by making informed decisions regarding maximizing income – reach out today!
Data sourced from Zillow Rental Market Trends as of January 22, 2025.