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Loop 303 between Happy Valley and Lone Mountain parkways closed overnight Monday and Tuesday to prepare for new project construction

The Arizona Department of Transportation advises drivers who use Loop 303 in the far Northwest Valley of overnight closures planned Monday, Nov. 30 and Tuesday, Dec. 1 between Happy Valley and Lone Mountain parkways for construction crews to establish traffic control for a new Loop 303 improvement project in this area. Northbound Loop 303 will be closed from 10 p.m. on Monday, Nov. 30 until 5 a.m. Tuesday, Dec. 1. Detour: Through traffic on Loop 303 can exit to eastbound Happy Valley Parkway to northbound Lake Pleasant Parkway to re-enter northbound Loop 303. Southbound Loop 303 will be closed from 10 p.m. on Tuesday, Dec. 1 until 5 a.m. on Wednesday, Dec. 2. Detour: Through traffic on Loop 303 can exit to southbound Lake Pleasant Parkway and use westbound Happy Valley Parkway to re-enter southbound Loop 303. Following these overnight restrictions, the inside shoulders along Loop 303 will be restricted for approximately 12 months during construction of Loop 303 improvements between Happy Valley and Lake Pleasant parkways. Improvements include: Constructing a third general purpose lane in each direction by widening in the median. Constructing new bridges over the Beardsley Canal and Jomax Parkway for the new section of the Loop 303 freeway mainline. Constructing the Jomax Parkway Traffic Interchange, which will connect to the future extension of Jomax Parkway west of Loop 303 to Vistancia Boulevard. The new roadway will be constructed by the city of Peoria, with construction expected to begin in March 2021. During the first phase of construction, the existing two lanes of traffic in each direction will be maintained on Loop 303 while the median shoulder is paved and new bridges for the future mainline roadway and Jomax Parkway ramps are constructed. In phase two, Loop 303 traffic will be shifted to the new mainline on the inside and the Jomax Parkway improvements will be constructed.

News released by Arizona Depart of Transportation dated 11/25/2021.

For the month of April 2020, all RENT Check indicators weaken except the number of closed rentals went up a bit.

Median Lease: $1,600 – remained flat vs $1,600 the month of March 2020.

Average Lease: $1,751 – Reduced from $1,759 of the previous month.

Avg. Days on Market: 24 – Reduced from 26 days of the previous month.

Closed Rental: 1,618 – Reduced from 1,783 homes the previous month.

Rent Check Quotient™: 1:5 – Rental supplies remains the same as 1:5 of last month.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

The COVID-19 has fairly minimum impact on the residential rental market. Yet it cooled down the upward trending a little bit.

Arizona’s re-opening for business starting 5/15 strengthens the housing market into summer. 

Builder’s confidence level is high, seller market continues.

For the month of Oct 2019, all RENT Check indicators weaken except the number of closed rentals went up a bit.

Median Lease: $1,550 – Reduced from $1,595 the previous month.
Average Lease: $1,726 – Reduced from $1,755 of the previous month.
Avg. Days on Market: 31 – Increased from 27 days of the previous month.
Closed Rental: 1,991 – Increased from 1,909 homes the previous month.

Rent Check Quotient™: 3:10 – Rental supplies went up comparing to 1:5 last month.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

While we are getting into the holiday season, the rental market started to slow down.

Click on the map below to view it in full size.

Click the map below to view it in full size.

Click on the map below to view it in full size.

Click on the map below to view it in full size.

For the month of May 2019, all RENT Check indicators continued weakening.

Median Lease: $1,550 – Increased from $1,500 the previous month.
Average Lease: $1,707 – Increased slightly from $1,701 of the previous month.
Avg. Days on Market: 25 – Increased slightly from 23 days of the previous month.
Closed Rental: 1,763 – Surged from 1,585 homes the previous month.

Rent Check Quotient™: 1:5 – Rental supplies remains flat as last month.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Due to the continuous holidays and the reduced availability, rent prices came back up firmly but volume dropped while DOM increased.

The best suburbs to live in the U.S. based on crime, public schools, cost of living, job opportunities, and local amenities. Ranking based on data from the U.S. Census, FBI, BLS, CDC, and other sources.

#1 in Best Suburbs to Live in Arizona
Chandler, Overall Grade A+, Public School A, Population 245,160

#2 in Best Suburbs to Live in Arizona
Gilbert, Overall Grade A+, Public School A, Population 232,176

#3 in Best Suburbs to Live in Arizona
Scottsdale, Overall Grade A, Public School A-, Population 239,283

#4 in Best Suburbs to Live in Arizona
Tempe, Overall Grade A, Public School A-, Population 178,339

#5 in Best Suburbs to Live in Arizona
Paradise Valley, Overall Grade A, Public School A-, Population 13,961

#6 in Best Suburbs to Live in Arizona
Litchfield Park, Overall Grade A, Public School A-, Population 5,686

#7 in Best Suburbs to Live in Arizona
Peoria, Overall Grade A-, Public School A-, Population 161,383

#8 in Best Suburbs to Live in Arizona
Queen Creek, Overall Grade A-, Public School B, Population 33,298

#9 in Best Suburbs to Live in Arizona
Anthem, Overall Grade A-, Public School A-, Population 22,980

#10 in Best Suburbs to Live in Arizona
Mesa, Overall Grade A-, Public School B+, Population 479,317

The survey was done by Niche.com, Copyright www.NICHE.com.

For the month of December 2018, all RENT Check indicators continued weakening.

Median Lease: $1,450 – Increased from $1,428 the previous month.
Average Lease: $1,611 – Increased slightly from $1,601 of the previous month.
Avg. Days on Market: 31 – Increased again from 29 days of the previous month.
Closed Rental: 1,738 – Decreased from 1,992 homes the previous month.

Rent Check Quotient™: 3:10 – Rental supplies remains flat as last month.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Due to the continuous holidays and the reduced availability, rent prices came back up firmly but volume dropped while DOM increased.

For the month of November 2018, all RENT Check indicators continued weakening.

Median Lease: $1,428 – Increased from $1,400 the previous month.
Average Lease: $1,601 – Decreased slightly from $1,619 of the previous month.
Avg. Days on Market: 29 – Increased again from 28 days of the previous month.
Closed Rental: 1,992 – Increased from 1,915 homes the previous month.

Rent Check Quotient™: 3:10 – Rental supplies remains flat as last month.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Thanks to snowbirds, the rental market bounced back slightly after reaching the bottom in October.