Tempe, AZ Rental Market Trends

Highlights

The average rent for an apartment in Tempe is $1,258, a 3% increase compared to the previous year, when the average rent was $1,222.

Studio apartments in Tempe rent for $936 a month, while 1-bedroom apartments ask on average $1,030 a month; the average rent for a 2-bedroom apartment is $1,236.

Average Rent in Tempe, AZ

Last updated Oct 2018
All rentals Studio 1 Bed 2 Beds 3 Beds
Average Rent $1,258 $936 $1,030 $1,236 $1,767
Y-o-Y Change 3% 5% 4% 1% 2%
Average Apartment Size 923 sq. ft. 505 sq. ft. 724 sq. ft. 1,020 sq. ft. 1,271 sq. ft.

The average size for a Tempe apartment is 923 square feet, but this number varies greatly depending on apartment type. A studio averages 505 sq. ft., while a one-bedroom apartment offers a more generous square footage: 724. 2-bedroom apartments in Tempe have an average size of 1,020 sq. ft.

Tempe, AZ Apartment Rent Ranges

  • $501-$7008%
  • $701-$1,00059%
  • $1,001-$1,50031%
  • $1,501-$2,0002%

Tempe, AZ Rent Trends

Average Rent All rentals Studio 1 Bed 2 Beds 3 Beds
Oct / 2018 $1,258 $936 $1,030 $1,236 $1,767
Jan / 2018 $1,257 $936 $1,029 $1,235 $1,765
Sept / 2017 $1,232 $904 $1,010 $1,223 $1,755
May / 2017 $1,222 $888 $994 $1,224 $1,736
Jan / 2017 $1,198 $865 $988 $1,187 $1,697
Sept / 2016 $1,189 $819 $968 $1,193 $1,675
May / 2016 $1,159 $811 $951 $1,156 $1,652
Jan / 2016 $1,115 $809 $917 $1,100 $1,611
Sept / 2015 $1,117 $805 $919 $1,109 $1,614
May / 2015 $1,088 $755 $889 $1,081 $1,576
/

Average Rent in Tempe, AZ By Neighborhood

Rio
$1,416
Hughes Acres
$1,295
Peterson Park
$1,295
Bell de Mar Crossing
$1,115
Camelot Village
$1,115
Optimist Park
$1,115
Pepperwood
$1,115
Tempe Gardens
$1,074
Wood Park
$1,074
Shalimar
$1,035

The most affordable neighborhoods in Tempe are Shalimar, where the average rent goes for $1,035/month, Tempe Gardens, where renters pay $1,074/mo on average, and Wood Park, where the average rent goes for $1,074/mo. If you’re looking for other great deals, check out the listings from Bell de Mar Crossing ($1,115), Camelot Village ($1,115), and Optimist Park ($1,115), where the asking prices are below the average Tempe rent of $1,258/mo.

The most expensive neighborhoods in Tempe are Hughes Acres ($1,295), Peterson Park ($1,295) and Rio ($1,416).

Tempe | Rent Comparison by Neighborhood

Neighborhood
vs.
Neighborhood

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

$1,115

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

All rentals $1,115
Studio $857
1 Bed $992
2 Beds $1,153
3 Beds $1,482
$1,115

Camelot Village rent is 11% lower than Tempe average

All rentals $1,115
Studio $857
1 Bed $992
2 Beds $1,153
3 Beds $1,482

How Does Tempe Compare to Nearby Cities

Average Rent Y-o-Y Change
Phoenix $956 3%
Glendale $866 2%
Mesa $912 1%
Surprise $1,114 6%
Buckeye $1,102 -2%
Tempe $1,258 3%
Chandler $1,162 4%
Avondale $1,011 0%
Scottsdale $1,359 4%
Gilbert $1,149 4%
Peoria $1,062 6%

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

Cheapest Listings on RENTCafé

Mid-priced Listings on RENTCafé

Most Expensive Listings on RENTCafé

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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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