Tempe, AZ Rental Market Trends
What is the average rent in Tempe?
The average rent for an apartment in Tempe is $1,566, a 9% increase compared to the previous year.
Average Rent in Tempe, AZ
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,566 | 9% | 877 sq. ft. |
What is the average apartment size in Tempe?
The average size for a Tempe, AZ apartment is 877 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. 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-$1,0006%
- $1,001-$1,50055%
- $1,501-$2,00024%
- > $2,00015%
Tempe, AZ Occupied Housing Units
- Renter-occupied Households52%
- Owner-occupied Households47%
38,008 or 52% of the households in Tempe, AZ are renter-occupied while 35,024 or 47% are owner-occupied.
Tempe, AZ Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Mar / 2021 | May / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tempe, AZ | $1,260 | $1,293 | $1,306 | $1,339 | $1,378 | $1,433 | $1,431 | $1,441 | $1,485 | $1,538 | $1,566 |
| National | $1,314 | $1,345 | $1,354 | $1,358 | $1,390 | $1,397 | $1,400 | $1,392 | $1,396 | $1,407 | $1,428 |
Average Rent in Tempe, AZ By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Rio | $1,666 |
| Sandahl | $1,607 |
| Warner Ranch | $1,607 |
| Hughes Acres | $1,561 |
| Peterson Park | $1,561 |
| Bell de Mar Crossing | $1,363 |
| Camelot Village | $1,363 |
| Optimist Park | $1,363 |
| Pepperwood | $1,363 |
| Tempe Gardens | $1,322 |
| Wood Park | $1,322 |
| Shalimar | $1,282 |
What are the most affordable neighborhoods in Tempe?
The most affordable neighborhoods in Tempe are Shalimar, where the average rent goes for $1,282/month, Tempe Gardens, where renters pay $1,322/mo on average, and Wood Park, where the average rent goes for $1,322/mo. If you’re looking for other great deals, check out the listings from Bell de Mar Crossing ($1,363), Camelot Village ($1,363), and Optimist Park ($1,363), where the asking prices are below the average Tempe rent of $1,566/mo.
What are the most expensive neighborhoods in Tempe?
The most expensive neighborhoods in Tempe are Sandahl ($1,607), Warner Ranch ($1,607) and Rio ($1,666).
What are the most popular neighborhoods in Tempe?
The most popular neighborhood in Tempe is Hughes Acres, where there are 24 verified RENTCafé listings with an average rent of $1,561. Next up is Peterson Park, where apartments go for $1,561/month, followed by Wood Park with $1,322 If you’re looking to rent in Tempe’s most popular neighborhoods, make sure to also check out Pepperwood, where renters pay $1,363 on average, and Shalimar, where the average monthly rent is $1,282.
Tempe | Rent Comparison by Neighborhood
Rent in Bell de Mar Crossing is the same as in Camelot Village
Bell de Mar Crossing rent is 13% lower than Tempe average
| Average Rent | $1,363 |
|---|
Camelot Village rent is 13% lower than Tempe average
| Average Rent | $1,363 |
|---|
How Tempe Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Phoenix | $1,252 | 10% |
| Glendale | $1,180 | 13% |
| Mesa | $1,223 | 10% |
| Tucson | $1,009 | 10% |
| Tempe | $1,566 | 9% |
| Chandler | $1,508 | 12% |
| Avondale | $1,371 | 12% |
| Peoria | $1,410 | 15% |
| Scottsdale | $1,706 | 10% |
| Surprise | $1,525 | 17% |
| Goodyear | $1,450 | 14% |