September 2025 Rent Check

The Arizona rental market in September 2025 showed growing supply and slightly slower tenant demand. Active listings held steady at 6,268, up over 38% from six months ago and 15% higher than last year. Closed rentals decreased 14.6% from August, but remained flat compared to the previous quarter and a year ago. New listings reached 2,985, showing landlords are continuing to test the market even as absorption cools. The average days on market rose to 53, a 10% monthly increase and nearly 18% higher than summer levels, reflecting more competition for renters. Months of supply across most price ranges hovered between 2.5 and 3.5 months, with lease-to-list ratios holding firm near 99–100%, signaling that while homes are taking longer to rent, pricing remains resilient. Overall, September’s data points to a balanced but softening rental market, giving renters more options and landlords an incentive to price competitively.