Tempe, AZ Rental Market Trends

Highlights

The average rent for an apartment in Tempe is $1,305, a 6% increase compared to the previous year, when the average rent was $1,232.

Average Rent in Tempe, AZ

Last updated May 2019
Average Rent Y-o-Y Change Average Apartment Size
$1,305 6% 923 sq. ft.

The average size for a Tempe, AZ apartment is 923 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.

Tempe, AZ Apartment Rent Ranges

  • $701-$1,00031%
  • $1,001-$1,50048%
  • $1,501-$2,00012%
  • > $2,0008%

Tempe, AZ Rent Trends

Average Rent Jan / 2016 May / 2016 Sept / 2016 Jan / 2017 May / 2017 Sept / 2017 Jan / 2018 May / 2018 May / 2019
Tempe, AZ $1,115 $1,159 $1,189 $1,198 $1,222 $1,232 $1,257 $1,258 $1,305
National $1,290 $1,319 $1,334 $1,329 $1,354 $1,366 $1,366 $1,381 $1,396
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Average Rent in Tempe, AZ By Neighborhood

The most affordable neighborhoods in Tempe are Shalimar, where the average rent goes for $1,092/month, Tempe Gardens, where renters pay $1,127/mo on average, and Wood Park, where the average rent goes for $1,127/mo. If you’re looking for other great deals, check out the listings from Bell de Mar Crossing ($1,165), Camelot Village ($1,165), and Optimist Park ($1,165), where the asking prices are below the average Tempe rent of $1,305/mo.

The most expensive neighborhoods in Tempe are Sandahl ($1,452), Warner Ranch ($1,452) and Rio ($1,453).

Tempe | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

Rent in Bell de Mar Crossing is the same as in Camelot Village

$1,165

Bell de Mar Crossing rent is 11% lower than Tempe average

Average Rent $1,165
$1,165

Camelot Village rent is 11% lower than Tempe average

Average Rent $1,165

How Does Tempe Compare to Nearby Cities

Average Rent Y-o-Y Change
Phoenix $1,014 8%
Mesa $977 9%
Buckeye $958 -16%
Tempe $1,305 6%
Scottsdale $1,434 9%
Glendale $937 8%
Chandler $1,252 8%
Gilbert $1,228 7%
Avondale $1,092 7%
Peoria $1,140 11%
Goodyear $1,180 7%

For more information about the Tempe 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 Tempe 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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