Downtown Phoenix, Phoenix, AZ Rental Market Trends
Last updated: November 18, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Downtown Phoenix is $1,963, a 3.2% decrease compared to the previous year, when the average rent was $2,028.
Studio Apartments at $1,364 offer the most budget-friendly option with 445 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 741 square feet for $1,838, balancing privacy and affordability.
Two-beedroom units at $2,497 offer 1,110 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,354 sq ft) for $4,065, suitable for larger households.
Average rent in Downtown Phoenix, Phoenix, AZ
Last updated: November 18, 2025
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,963 | 798 sq. ft. |
| Studio | $1,364 | 445 sq. ft. |
| 1 Bed | $1,838 | 741 sq. ft. |
| 2 Beds | $2,497 | 1,110 sq. ft. |
| 3 Beds | $4,065 | 1,354 sq. ft. |
Downtown Phoenix, Phoenix, AZ rent trends
Rental prices in Downtown Phoenix, Phoenix, AZ have decreased by 3.2% over the past year. The average rent moved from $2,028 to $1,963.
What's the typical rent budget in Downtown Phoenix, Phoenix, AZ?
The largest share of rentals in Downtown Phoenix, Phoenix, AZ (44%) fall between $1,501-$2,000 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Downtown Phoenix, Phoenix, AZ?
3,318 or 73% of the households in Downtown Phoenix, Phoenix, AZ are renter-occupied while 1,212 or 27% are owner-occupied.
Most affordable neighborhoods in Downtown Phoenix?
North Mountain Village $1,231/month
Alhambra $1,235/month
Maryvale $1,377/month
All of these neighborhoods fall below the city wide average of $1,486/month.Most expensive neighborhoods in Downtown Phoenix?
Downtown Phoenix $1,963/month
Desert View $1,995/month
Valley Vista $2,187/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Phoenix, AZ By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Valley Vista | $2,187 |
| Desert View | $1,995 |
| Downtown Phoenix | $1,963 |
| Sonoran Foothills | $1,873 |
| Dynamite Mountain Ranch | $1,868 |
| Estrella Village | $1,823 |
| Tramonto | $1,624 |
| Ahwatukee Foothills | $1,592 |
| Amber Hills | $1,546 |
| Paradise Valley Village | $1,534 |
| South Mountain Highland Terrace | $1,532 |
| Biltmore | $1,528 |
| East Phoenix | $1,477 |
| Camelback East | $1,475 |
| Encanto Village | $1,443 |
| Deer Valley Village | $1,395 |
| Central City | $1,384 |
| Maryvale | $1,377 |
| Alhambra | $1,235 |
| North Mountain Village | $1,231 |
/
/
Phoenix | Rent Comparison by Neighborhood
Rent in Downtown Phoenix is 23% higher than in Ahwatukee Foothills
$1,963
Downtown Phoenix rent is the same as Phoenix average
Average Rent
$1,963
$1,592
Ahwatukee Foothills rent is 19% lower than Phoenix average
Average Rent
$1,592
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Downtown Phoenix apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.