Phoenix, AZ Rental Market Trends

Highlights

The average rent for an apartment in Phoenix is $935, a 5% increase compared to the previous year, when the average rent was $894.

Studio apartments in Phoenix rent for $687 a month, while 1-bedroom apartments ask on average $863 a month; the average rent for a 2-bedroom apartment is $1,018.

Average Rent in Phoenix, AZ

Last updated Apr 2018
All rentals Studio 1 Bed 2 Beds 3 Beds
Average Rent $935 $687 $863 $1,018 $1,286
Y-o-Y Change 5% 6% 5% 4% 3%
Average Apartment Size 821 sq. ft. 470 sq. ft. 681 sq. ft. 975 sq. ft. 1,244 sq. ft.

The average size for a Phoenix apartment is 821 square feet, but this number varies greatly depending on apartment type. A studio averages 470 sq. ft., while a one-bedroom apartment offers a more generous square footage: 681. 2-bedroom apartments in Phoenix have an average size of 975 sq. ft.

Phoenix, AZ Apartment Rent Ranges

  • < $5001%
  • $501-$70018%
  • $701-$1,00050%
  • $1,001-$1,50027%
  • $1,501-$2,0003%
  • > $2,0001%

Phoenix, AZ Rent Trends

Average Rent All rentals Studio 1 Bed 2 Beds 3 Beds
Apr / 2018 $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
$1,193
Ahwatukee Foothills
$1,096
South Mountain
$1,076
Central City
$1,071
Encanto Village
$1,036
Camelback East
$995
Valley Vista
$985
Paradise Valley Village
$929
Deer Valley Village
$887
North Mountain Village
$840
Alhambra
$768
Maryvale
$766
Estrella Village
$747

The most affordable neighborhoods in Phoenix are Estrella Village, where the average rent goes for $747/month, Maryvale, where renters pay $766/mo on average, and Alhambra, where the average rent goes for $768/mo. If you’re looking for other great deals, check out the listings from North Mountain Village ($840), Deer Valley Village ($887), and Paradise Valley Village ($929), where the asking prices are below the average Phoenix rent of $935/mo.

The most expensive neighborhoods in Phoenix are South Mountain ($1,076), Ahwatukee Foothills ($1,096) and Desert View ($1,193).

Phoenix | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in Ahwatukee Foothills is 43% higher than in Alhambra

$1,096

Ahwatukee Foothills rent is 17% higher than Phoenix average

All rentals $1,096
Studio $825
1 Bed $956
2 Beds $1,175
3 Beds $1,319
$768

Alhambra rent is 18% lower than Phoenix average

All rentals $768
Studio $613
1 Bed $725
2 Beds $860
3 Beds $1,133

How Does Phoenix Compare to Nearby Cities

Average Rent Y-o-Y Change
Phoenix $935 5%
Tempe $1,232 4%
Mesa $895 4%
Surprise $1,107 8%
Glendale $864 6%
Scottsdale $1,322 5%
Avondale $1,020 7%
Buckeye $1,136 42%
Peoria $1,027 6%
Chandler $1,159 6%
Gilbert $1,148 6%

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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