Local rent prices on the rise

YUMA, Ariz. (KECY, KYMA) - According to a recent study, rent prices in Yuma County are appearing significantly higher than last year, rising as much as 30 percent. 

With current inflation and rising prices, locals looking for a place to live are facing challenges.

One local property manager says she has rentals ranging from 550 all the way up to 45-hundred dollars.  

“There are definitely some lower income properties available, but they don’t come up for rent often because everyone who’s renting them doesn’t want to leave. The price of apartments even now for a two bedroom, two bath apartment is 14-hundred dollars," said Hailey Caragata.

And just for a studio apartment in Yuma, the average rent is 885 dollars, up 20 percent from last year.

While the price for a two-bedroom apartment rose by 24 percent, an average of more than 11-hundred dollars.

One renter says she has been renting for about a decade and is ready to buy.

“I am in the hunt to purchase a home. I’ve been renting for the last ten years. Looking around, it’s actually a better deal to purchase a home right now because rents have gone skyrocketed here in Yuma County,” said Becky Garcia Sanchez.

Garcia Sanchez says the best advice she has for finding a new place to call home is to really do your research and find a realtor to help in the search.

“Demand is going up and one of the things is, it’s hard to find homes to purchase because they’re pretty expensive as well. In the last month I think I’ve been out looking and trying to make comparisons and see what would be the best deal for me," said Garcia Sanchez.

If the supply can keep up with the demand, realtors say renters can expect rates to decrease in the upcoming year.