Phoenix, AZ Rental Market Trends

Highlights

The average rent for an apartment in Phoenix is $955, a 5% increase compared to the previous year, when the average rent was $906.

Studio apartments in Phoenix rent for $701 a month, while 1-bedroom apartments ask on average $880 a month; the average rent for a 2-bedroom apartment is $1,040.

Average Rent in Phoenix, AZ

Last updated Jul 2018
All rentals Studio 1 Bed 2 Beds 3 Beds
Average Rent $955 $701 $880 $1,040 $1,314
Y-o-Y Change 5% 6% 5% 6% 5%
Average Apartment Size 822 sq. ft. 469 sq. ft. 681 sq. ft. 976 sq. ft. 1,224 sq. ft.

The average size for a Phoenix apartment is 822 square feet, but this number varies greatly depending on apartment type. A studio averages 469 sq. ft., while a one-bedroom apartment offers a more generous square footage: 681. 2-bedroom apartments in Phoenix have an average size of 976 sq. ft.

Phoenix, AZ Apartment Rent Ranges

  • < $5004%
  • $501-$70060%
  • $701-$1,00028%
  • $1,001-$1,5008%

Phoenix, AZ Rent Trends

Average Rent All rentals Studio 1 Bed 2 Beds 3 Beds
Jul / 2018 $955 $701 $880 $1,040 $1,314
Sept / 2017 $935 $687 $863 $1,018 $1,286
May / 2017 $932 $687 $856 $1,017 $1,303
Jan / 2017 $906 $664 $837 $986 $1,256
Sept / 2016 $894 $645 $821 $977 $1,246
May / 2016 $882 $627 $809 $965 $1,250
Jan / 2016 $851 $604 $781 $928 $1,219
Sept / 2015 $832 $595 $758 $913 $1,185
May / 2015 $811 $574 $738 $891 $1,165
Jan / 2015 $778 $555 $708 $855 $1,108
/

Average Rent in Phoenix, AZ By Neighborhood

Desert View
$1,210
Ahwatukee Foothills
$1,108
Central City
$1,092
South Mountain
$1,082
Encanto Village
$1,072
Valley Vista
$1,024
Camelback East
$1,006
Paradise Valley Village
$955
Deer Valley Village
$908
North Mountain Village
$860
Alhambra
$798
Maryvale
$774
Estrella Village
$767

The most affordable neighborhoods in Phoenix are Estrella Village, where the average rent goes for $767/month, Maryvale, where renters pay $774/mo on average, and Alhambra, where the average rent goes for $798/mo. If you’re looking for other great deals, check out the listings from North Mountain Village ($860), Deer Valley Village ($908), and Paradise Valley Village ($955), where the asking prices are below the average Phoenix rent of $955/mo.

The most expensive neighborhoods in Phoenix are Central City ($1,092), Ahwatukee Foothills ($1,108) and Desert View ($1,210).

Phoenix | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in Ahwatukee Foothills is 39% higher than in Alhambra

$1,108

Ahwatukee Foothills rent is 16% higher than Phoenix average

All rentals $1,108
Studio $890
1 Bed $964
2 Beds $1,173
3 Beds $1,413
$798

Alhambra rent is 16% lower than Phoenix average

All rentals $798
Studio $646
1 Bed $750
2 Beds $895
3 Beds $1,192

How Does Phoenix Compare to Nearby Cities

Average Rent Y-o-Y Change
Phoenix $955 5%
Tempe $1,257 5%
Mesa $910 6%
Glendale $865 5%
Surprise $1,114 9%
Scottsdale $1,362 6%
Buckeye $1,102 1%
Peoria $1,062 7%
Chandler $1,162 6%
Avondale $1,011 6%
Gilbert $1,146 7%

For more information about the Phoenix rental trends, check out our monthly rent report

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The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Phoenix apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

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