Construction of new apartments in the U.S. is set to exceed 500,000 units this year, with Tucson contributing over 1,000 new rental units. Demand is fueled by those unable to buy homes, new residents, and renters seeking maintenance-free living. Rental prices have stabilized, making renting cheaper than buying, with the average rent in Tucson around $1,300. Despite a 40% increase in rents over four years, Tucson remains affordable compared to other cities. New developments are attracting both retirees and newcomers, enhancing the local rental market.
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